Ripple’s RLUSD stablecoin, which is backed by the US dollar, has launched in Japan after getting the green light from the country’s Financial Services Agency (FSA).
This approval means RLUSD can now be offered to both institutional and retail customers through SBI VC Trade. It’s a key step for Ripple’s global stablecoin plans and boosts its presence in Japan, a country known for strict digital asset regulations as more governments set formal rules for stablecoins.
Japan’s Financial Services Agency approved RLUSD as an electronic payment instrument under the Payment Services Act. This category is meant for foreign-issued stablecoins that meet Japan’s tough regulatory standards.
RLUSD will first be available through SBI VC Trade, the crypto division of SBI Holdings. Customers on the VCTRADE platform can use the dollar-pegged stablecoin for different digital asset transactions.
Japan is known for having some of the strictest stablecoin regulations. Getting approval there gives Ripple more credibility as it aims to make RLUSD a trusted settlement asset for businesses and financial institutions.
Ripple says RLUSD has reached a market capitalization of about $1.7 billion since launching in late 2024. While this is much smaller than Tether’s USDT and Circle’s USDC, Ripple believes that getting regulatory approvals will help drive future adoption.
The launch in Japan also fulfils an agreement Ripple and SBI signed in August 2025. Their partnership goes back to 2016, when they started working together on blockchain technology and cross-border payments in Asia.
Ripple’s Senior Vice President of Stablecoins, Jack McDonald, says RLUSD is meant to help with international payments, tokenization, and collateral management. The stablecoin aims to connect Japanese businesses to global dollar liquidity and support the rise of blockchain-based financial services.
Ripple has always marketed RLUSD as a stablecoin for businesses, not for retail trading. The company expects it to play a key role in settlement services, tokenized real-world assets, and institutional finance.
Now, the main challenge is getting RLUSD adopted in the market. It still faces strong competition from USDT and USDC, which lead in global stablecoin trading and liquidity.
Still, getting approval in Japan gives Ripple a key position in Asia’s regulated digital asset market. It also shows that compliance is becoming more important as the global stablecoin market grows up.
We’re proud to announce that Ripple USD ($RLUSD) is now officially available in Japan, following approval from the Japan Financial Services Agency (JFSA): https://t.co/5rJZBrFaIM
Through our partnership with SBI Group and @sbivc_official, $RLUSD will be accessible to both…
— Ripple (@Ripple) June 25, 2026
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