Ripple & SBI to Launch RLUSD Stablecoin in Japan by 2026

Japan’s crypto scene is about to get a major shake-up. Ripple and SBI Holdings are joining forces to launch the RLUSD stablecoin in Japan by early 2026, taking advantage of the country’s freshly updated stablecoin laws that now welcome foreign issuers.

This strategic move comes under a memorandum of understanding between Ripple and SBI VC Trade, the latter being a licensed crypto exchange in Japan. The partnership promises to boost the reliability and convenience of stablecoins for Japanese users, according to SBI VC Trade CEO Tomohiko Kondo.

Japan’s Stablecoin Laws Pave the Way

The groundwork for this launch was laid by Japan’s Payment Services Act amendment, which came into effect in June 2023. The law introduced a licensing regime for electronic payment instruments and specifically allowed only licensed entities such as fund transfer service providers or trust banks to issue or distribute fiat-pegged stablecoins.

SBI VC Trade was the first in Japan to secure this special license, enabling it to handle foreign-issued stablecoins like RLUSD. Tokyo-based analyst Rick Maeda notes that Japan quietly boasts a very structured and bank-friendly crypto regime, which Ripple is now leveraging alongside SBI’s extensive retail and institutional reach.

RLUSD’s Market Position

RLUSD is currently a smaller player in terms of circulation, with about $667 million in market cap and an average daily trading volume of $71 million. The stablecoin is issued under a New York State trust-company charter and is fully backed by cash, short-term Treasuries, and cash equivalents, with monthly reserve attestations ensuring transparency.

This positions RLUSD to stand out in Japan’s compliance-focused market where institutional branding and reserve transparency are highly valued. Ripple’s move follows other regulated stablecoin launches such as Circle’s USDC approval in Japan earlier this year, though competitors like Tether’s USDT have yet to receive approval.

Ripple’s Strategic Edge

Beyond RLUSD, Ripple’s immense XRP holdings worth billions add weight to its market influence. Private market shares of Ripple often trade at a discount to XRP’s value, highlighting the company’s unique position in both crypto and financial markets.

With Japan opening its doors to licensed foreign stablecoins, Ripple and SBI VC Trade are set to capitalize on a golden opportunity, bringing regulatory confidence, banking partnerships, and user-friendly stablecoin solutions to one of Asia’s most structured crypto markets.