Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows regulatory clearance from the Japan Financial Services Agency under the country’s Payment Services Act.
The token, known as RLUSD, will be made available to both institutional and retail users through the VCTRADE platform operated by SBI VC Trade.
This launch implements a strategic initiative outlined in a memorandum of understanding signed between the companies in August 2025.
Under the local regulatory framework, RLUSD is categorised as a new type of electronic payment instrument.
This specific classification applies to foreign-issued stablecoins that meet the strict safety and compliance standards required by Japanese law.
“Japan has long been a leader in digital asset adoption, underpinned by both regulatory clarity and financial innovation,”
said Jack McDonald, Senior Vice President of Stablecoins at Ripple.
“Through our collaboration with SBI Group, RLUSD will serve as a bridge for payments, tokenisation and collateral management, connecting Japanese businesses and individuals more efficiently to global liquidity.”
The stablecoin has accumulated a market capitalisation of US$1.7 billion since its initial introduction in late 2024.
Beyond settlement and cross-border liquidity services, firms are exploring the asset for applications such as programmable trade settlements and supply chain finance.
The initiative builds on a long-term relationship between the two financial entities, which have collaborated on blockchain infrastructure since 2016.
SBI VC Trade plans to introduce further services and deployment cases around the stablecoin for its user base.
“The introduction of RLUSD represents a major milestone in our ongoing collaboration and our efforts to drive innovation in digital finance,”
said Tomohiko Kondo, Chief Executive Officer of SBI VC Trade.
“Looking ahead, we remain fully committed to expanding the range of services built around RLUSD and fostering new use cases.”
Featured image credit: Edited by Fintech News Hong Kong, based on image by topntp26 via Magnific