Ripple Launches RLUSD Stablecoin in Japan via SBI VC Trade

On June 24, Ripple and SBI Group announced the launch of the RLUSD dollar stablecoin in Japan: the token is now available to retail and institutional clients through SBI VC Trade's VCTRADE platform. The launch follows approval from Japan's Financial Services Agency (JFSA), which classified RLUSD as a new type of electronic payment instrument under the country's Payment Services Act.

What it changes

The Ripple–SBI Group partnership formally began in August 2025, when the two sides signed a memorandum of understanding. That agreement has now turned into a live product: RLUSD is meant to serve not just as a settlement tool, but as a bridge for tokenization and collateral management connecting Japanese businesses to global dollar liquidity.

Jack McDonald, Ripple's SVP of Stablecoins, said: "Japan has long been a leader in digital asset adoption, underpinned by both regulatory clarity and financial innovation. This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers and businesses in Japan." SBI VC Trade CEO Tomohiko Kondo added: "We remain fully committed to expanding the range of services built around RLUSD and fostering new use cases that deliver greater value to our customers and the broader market."

Why it matters

The launch lands during a period of rapid growth for the token itself: RLUSD's market cap has climbed from $132 million a year ago to roughly $1.6 billion today, while transfer volume hit a record $18.4 billion in the first quarter of 2026. Even so, RLUSD ranks only ninth among stablecoins by market cap — entering a tightly regulated market like Japan could be a meaningful catalyst for further growth, compared with less predictable jurisdictions.