Ripple and SBI to Launch RLUSD Stablecoin in Japan by 2026

Ripple and SBI Holdings have announced that they have partnered up to launch Ripple’s RLUSD stablecoin in Japan by early 2026. The RLUSD is a U.S. dollar-pegged stablecoin that has been making waves in the industry since it was launched. The new initiative is built on Japan’s latest updated regulatory framework for stablecoins. This launch will position RLUSD as a trusted digital currency option within Japan’s financial ecosystem.

Ripple and SBI Holdings to Launch RLUSD in Japan

A memorandum of understanding between Ripple and SBI will facilitate the launch of the RLUSD. With the memorandum in place, SBI VC Trade will be designated as the distributor of RLUSD in Japan. SBI VC Trade is a licensed Electronic Payment Instruments Exchange Provider in the Asian country. This partnership capitalizes on the recent revision to Japan’s Payment Services Act. The Payment Services Act was first amended in 2023 and was further refined in the regulations that are set to take effect by 2026.

The latest framework introduces firm licensing requirements for stablecoin issuers and distributors. This ensures that only regulated financial institutions can operate in the Japanese crypto industry. It also ensures full transparency and third-party attestation. Such measures are put in place to strengthen trust among institutions and consumers while also enabling Japan to emerge as a hub for regulated stablecoin adoption.

Thanks to the monthly attestations by independent accounting firms, the RLUSD will be supported by short-term treasuries, cash equivalents, and U.S. dollar deposits. According to Ripple, this approach aligns with the expectations of Japanese regulators for compliance and transparency.

CEO of SBI VC Trade, Tomohiko Kondo, stated that the introduction of RLUSD will improve the reliability and convenience of stablecoins in Japan.

This RLUSD launch decision is followed by the regulatory approval of Circle’s USDC this year. The USDC became the first U.S. dollar-pegged stablecoin that is authorized for distribution in Japan. So far, Tether’s USDT has not yet received regulatory clearance in Japan.

CoinGecko says that RLUSD has a market circulation of about $667 million and an average daily trading volume of $71 million right now. Analysts think that Ripple's strong cooperation with SBI might lead to a lot more use in Japan, where banks are already testing out blockchain-based settlement and tokenization solutions.

If successful, the rollout in early 2026 could mark a significant step toward mainstream adoption of stablecoins, reinforcing Japan’s position as a global leader in regulated digital finance.