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Ripple Labs announced a partnership with SBI Holdings, a major financial services conglomerate in Japan. Starting in Q1 2026, the memorandum of understanding states that SBI subsidiary SBI VC Trade will distribute Ripple’s stablecoin, RLUSD, across Japan.

SBI VC Trade has multiple Japanese financial licenses and was the country’s first Electronic Payment Instruments Exchange Service Provider. As a result, RLUSD will be available to expand stablecoin options in Japan. According to Tomohiko Kondo, CEO of SBI VC Trade, the launch of RLUSD marks a significant step forward in the reliability and usability of stablecoins, extending beyond just increasing their options in the Japanese market.

The announcement did not specify whether the stablecoins would be limited to financial institutions or open for retail use. Ripple has been a partner of SBI since 2016.

Ripple’s stablecoin is relatively small compared to those of major issuers like Circle and Tether. Although circulation has grown gradually this year, it remains only $666 million, holding a 0.24 percent market share in the $280 billion stablecoin industry.

Ripple had provided the Gemini cryptocurrency exchange with a $75 million secured credit line that can be increased to $150 million. Borrowers can request funds in RLUSD once the initial $75 million is exceeded. Industry analysts mentioned that Gemini might use the Ripple stablecoin for its initial public offering (IPO).