Ripple has partnered with SBI Holdings to bring the RLUSD stablecoin to Japan in the first quarter of 2026.
The companies signed a memorandum of understanding on August 22, positioning SBI VC Trade as a distribution partner for Ripple's enterprise-grade stablecoin.
SBI VC Trade holds a license as an Electronic Payment Instrument Exchange Service Provider in Japan, becoming the first licensed entity in the country to handle stablecoins.
This partnership marks Ripple's latest expansion into regulated markets and reaffirms SBI's leading position in the cryptocurrency market in Japan.
RLUSD Targets Organizational Needs
RLUSD was launched as a Ripple solution that meets the requirements of stablecoins for institutions. This token is fully backed by deposits in US dollars, short-term government bonds, and cash equivalents.
Third-party accounting firms provide monthly attestations to ensure transparency and regulatory compliance.
The stablecoin market reached a value of nearly $274 billion as of August 2025, with RLUSD accounting for $667 million.
Industry forecasts indicate that the market will grow by trillions of dollars in the coming years, thanks to institutional adoption and expanded utility.
RLUSD positions itself as a compliance-focused alternative to existing stablecoins, capable of expanding market participation.
Jack McDonald, Senior Vice President in charge of Stablecoin at Ripple, noted the regulatory focus of the partnership.
The CEO stated that RLUSD serves as a bridge between traditional finance and decentralized finance, while meeting industry standards for reliability and efficiency.
Tomohiko Kondo, CEO of SBI VC Trade, described the introduction of RLUSD as an expansion of stablecoin options in Japan.
The CEO emphasized the role of this move in promoting the convergence of financial technology and building transparent financial infrastructure.
SBI Expands Cryptocurrency Investment Portfolio on Three Fronts
SBI Holdings announced three separate cryptocurrency initiatives on August 22, reflecting the company's comprehensive digital asset strategy.
In addition to its partnership with Ripple, SBI has formed a joint venture with Circle and Startale Group for different market segments.
The partnership with Circle focuses on promoting the USDC stablecoin in Japan. SBI and Circle Internet Holdings formed a joint venture following a memorandum of understanding in November 2023.
This collaboration aims to create new use cases for digital finance and Web3 while leveraging SBI’s financial infrastructure.
Additionally, SBI acquired $50 million in Circle shares as a strategic investor after Circle's listing on the NYSE. This investment strengthens the collaborative foundation and positions SBI within Circle's ecosystem.
SBI VC Trade became the first registered Electronic Payment Instrument Service Provider in Japan in March 2025, subsequently launching USDC trading services.
The partnership between Startale Group and the tokenized stocks and real assets. This joint venture is expected to launch a 24/7 online trading platform, addressing the projected $18.9 trillion market opportunity for tokenized assets by 2033.
The platform will offer fractional ownership, cross-border payments, and an enterprise-level security framework.
SBI Holdings operates as a comprehensive financial group managing over 11 trillion JPY (74 billion USD) in assets.
The company serves 65 million customers worldwide, including 14 million securities accounts, providing significant distribution potential for cryptocurrency products.
The launch of RLUSD is based on SBI's existing relationship with Ripple and its involvement in the XRP ecosystem.
SBI has supported the adoption of XRP in Japan through various initiatives, making the RLUSD partnership a natural extension of cooperation.
Furthermore, Japan's regulatory clarity on stablecoins facilitates the introduction of RLUSD.
The country's electronic payment instrument framework provides clear guidelines for stablecoin operations, reducing regulatory uncertainty for operators like SBI VC Trade.
The Convergence of Traditional and Digital Finance
These three announcements showcase SBI's comprehensive approach to integrating digital assets.
The company simultaneously addresses the issue of stablecoin distribution, cryptocurrency asset trading, and cryptocurrency services for institutions through strategic partnerships.
Yoshitaka Kitao, Chairman and CEO of SBI Holdings, described these initiatives as aimed at capturing structural transformations in the global financial market.
The CEO emphasized that the convergence of traditional finance and DeFi is a driving force behind the company's digital asset strategy.
The RLUSD partnership brings Ripple into Japan's growing stablecoin ecosystem alongside Circle's USDC.
The launch timeline appears to provide ample preparation time for regulatory compliance and market training before this stablecoin launches in Japan.
Ultimately, SBI's expansion into cryptocurrency in multiple directions demonstrates institutional trust in its digital asset infrastructure.
