Ripple and SBI Group have launched Ripple USD, known as RLUSD, in Japan after approval from the Japan Financial Services Agency.
Summary
- JFSA approval now gives RLUSD a regulated Japan entry point through SBI VC Trade’s platform.
- Ripple’s stablecoin rollout targets payments, tokenization, and collateral management for Japanese users and institutions alike.
- The launch extends RLUSD’s Asia push after recent market access wins in Türkiye and beyond.
The dollar-backed stablecoin is now available through SBI VC Trade, the licensed crypto arm of SBI Group.
The launch gives both retail and institutional users access to RLUSD through the VCTRADE platform. Ripple said the approval places RLUSD under Japan’s Payment Services Act as a new type of electronic payment instrument for foreign-issued stablecoins.
As crypto.news reported, Ripple and SBI first outlined the Japan rollout in August 2025 through a memorandum of understanding. That agreement named SBI VC Trade as the local distribution partner and set an early 2026 target for market entry.
The official launch completes that plan and brings RLUSD into one of Asia’s closely regulated digital asset markets. SBI VC Trade already holds the required local license, giving Ripple a direct route to serve Japanese users under the country’s stablecoin rules.
Ripple targets payments and tokenization
Ripple has positioned RLUSD as a dollar stablecoin for payments, tokenized assets, and collateral use. The company said RLUSD has reached $1.7 billion in market value since its late 2024 launch.
Jack McDonald, Ripple’s senior vice president of stablecoins, said the launch expands access to “transparent, regulated USD-backed stablecoins” in Japan. He also said RLUSD can support payments, tokenization, and collateral management for businesses and users.
SBI VC Trade CEO Tomohiko Kondo called the rollout a “major milestone” in the long partnership between Ripple and SBI Group. He said the companies plan to expand services around RLUSD and develop more use cases for customers.
Global rollout reaches Japan
The Japan launch comes as Ripple continues to push RLUSD across markets and networks. As previously reported, Ripple made RLUSD available to institutions in Türkiye through BiLira, Bitexen, and Bitlo earlier in June.
Previously, crypto.news explored RLUSD’s expansion across more than 40 blockchain networks through Wormhole’s Native Token Transfers framework. That rollout moved RLUSD beyond its initial support on XRP Ledger and Ethereum, adding access through several Ethereum layer-2 networks.
In a previous article, crypto.news discussed Ripple’s role in tokenized finance after a tokenized Treasury settlement test on XRP Ledger. RLUSD served as part of the cash settlement layer in that broader institutional setup.
Japan has built a clear legal path for stablecoins through its Payment Services Act. That framework has attracted global issuers seeking regulated access to the market.
For Ripple, the launch adds another country to RLUSD’s global distribution map. For SBI Group, it adds a dollar stablecoin product to a platform that already serves Japanese crypto users.
The launch also extends a relationship that began in 2016, when Ripple and SBI started working on digital asset and blockchain-based finance in Japan and Asia-Pacific. Their latest step focuses on regulated stablecoin access rather than only cross-border payment rails.
RLUSD’s next test will depend on adoption from Japanese users, institutions, and businesses. The stablecoin enters Japan with regulatory approval, but usage will depend on liquidity, pricing, and demand for dollar-based digital settlement.
