Ripple & SBI Launch RLUSD Stablecoin in Japan

Ripple has formed a partnership with SBI Holdings, a major Japanese financial institution, to introduce the Ripple USD (RLUSD) stablecoin in Japan, expected to launch in the first quarter of 2026. SBI VC Trade, the cryptocurrency division of SBI Holdings, will oversee the distribution of RLUSD in Japan. Tomohiko Kondo, CEO of SBI VC Trade, noted the collaboration as a significant development in Japan’s cryptocurrency landscape. He stated, "SBI Group is at the forefront of cryptocurrency and blockchain growth in Japan. The launch of RLUSD not only increases the stablecoin options available but also represents a significant leap in their reliability and convenience." The RLUSD, which was initially launched in December 2024, is pegged 1:1 to reserves, including U.S. dollar deposits, short-term U.S. government bonds, and other cash equivalents, according to Ripple. As of 2:20 a.m. ET on Friday, RLUSD holds a market capitalization of $666 million, with a trading volume of $71 million in the last 24 hours, according to data from CoinGecko. This move by Ripple comes at a time when the stablecoin market is experiencing rapid growth. The total supply of USD-pegged stablecoins reached $266 billion as of Thursday, rising from $256 billion on August 1, based on The Block's data. In June, the Dubai Financial Services Authority approved RLUSD for use as a payment method within the Dubai International Financial Centre, broadening the stablecoin's influence in the region. Disclaimer: The Block is an independent media outlet that provides news, research, and data. As of November 2023, Foresight Ventures is a majority investor in The Block, which operates independently to deliver unbiased information about the crypto industry. This article is for informational purposes only and is not intended as legal, tax, investment, or financial advice.