Ripple to Launch RLUSD Stablecoin in Japan Through Partnership With SBI Holdings

Ripple has announced plans to introduce its U.S. dollar-backed stablecoin, RLUSD, to the Japanese market in partnership with SBI Holdings. The stablecoin is expected to go live in Japan as early as the first quarter of 2026, pending regulatory processes.

Ripple and SBI expand longstanding partnership

The rollout will be conducted through SBI VC Trade, the cryptocurrency arm of SBI Holdings, which recently became Japan’s first licensed Electronic Payment Instruments Exchange Service Provider. This regulatory status allows it to distribute foreign-issued stablecoins, including RLUSD, to Japanese users.

The $300B stablecoin market is set to grow into the trillions.

Together with @sbivc_official, we’re bringing $RLUSD to Japan in early 2026, offering users and institutions a trusted, regulated and fully-backed stablecoin built for enterprise use cases. https://t.co/htcrMiQkTe

— Ripple (@Ripple) August 22, 2025

Tomohiko Kondo, CEO of SBI VC Trade, said:

“SBI Group has been leading the development of the cryptocurrency and blockchain field in Japan. The introduction of RLUSD will not just expand the option of stablecoins in the Japanese market, but is a major step forward in the reliability and convenience of stablecoins.”

The move extends the longstanding collaboration between Ripple and SBI Holdings, which have been close partners in Asia’s blockchain ecosystem for several years.

RLUSD aims for compliance and transparency

Launched in December 2024, RLUSD is Ripple’s first stablecoin. The token is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents. Ripple provides monthly attestations by a third-party firm to ensure transparency and regulatory compliance.

Ripple says the structure of RLUSD is intended to meet institutional-grade standards, offering a compliant and secure bridge between traditional and decentralized finance. “RLUSD is designed to be a true industry standard,” said Jack McDonald, Ripple’s senior vice president of stablecoins.

The market cap of RLUSD has grown to $666 million. Image source: Messari

The launch in Japan follows RLUSD’s recent approval by the Dubai Financial Services Authority for use within the Dubai International Financial Centre, further boosting the stablecoin’s global presence.

Japan’s evolving stablecoin landscape

Japan’s stablecoin market has been gaining momentum following recent regulatory reforms. SBI Holdings is also engaged in several stablecoin-related initiatives, including a joint venture with Circle and collaborations with major financial institutions like SMBC.

These developments come as Japan approved the issuance of its first yen-denominated stablecoin earlier this week, signaling increasing regulatory openness to digital assets.

By targeting Japan’s expanding stablecoin ecosystem, Ripple and SBI aim to position RLUSD as a key player in the country’s digital financial infrastructure.