Ripple Launches RLUSD in Japan Through SBI VC Trade After FSA Regulatory Approval

Ripple has officially launched its US dollar-pegged stablecoin RLUSD in Japan following regulatory approval from the Japan Financial Services Agency. The stablecoin is now live through SBI VC Trade, the crypto arm of Japanese financial giant SBI Holdings, and is available to both institutional and retail users.

Japan’s FSA classified RLUSD as a new type of electronic payment instrument under the country’s Payment Services Act clearing the path for the launch.

What RLUSD Is Being Used For in Japan

According to Ripple, the stablecoin will serve as a bridge for payments, tokenization and collateral management, helping Japanese businesses and individuals tap into global liquidity more efficiently. RLUSD launched in 2024 and is backed 1:1 by US dollar deposits, short-term US government bonds and cash equivalents. It currently carries a market cap of $1.6 billion with a 24-hour trading volume of around $116.7 million.

Japan Is Moving Fast on Stablecoins

Ripple’s launch is part of a broader stablecoin push happening across Japan right now. On the same day, SBI Group launched JPYSC the country’s first trust bank-backed yen stablecoin in partnership with Singapore-based fintech Startale Group. Japan’s three largest banks, MUFG, SMBC and Mizuho, have also announced plans to begin live commercial transactions using a jointly issued stablecoin before March 2027.