Ripple to Launch RLUSD in Japan by Early 2026
Ripple Labs announced on Friday that it will launch its stablecoin Ripple USD (RLUSD) in Japan in the first quarter of 2026...
Quick overview
- Ripple Labs will launch its stablecoin, Ripple USD (RLUSD), in Japan in partnership with SBI Holdings in Q1 2026.
- RLUSD is backed 1:1 by U.S. dollar deposits and aims to enhance the reliability and convenience of stablecoins for Japanese users.
- Japan's regulatory framework for stablecoins, established in June 2023, allows only licensed institutions to issue or distribute them.
- Ripple plans to expand RLUSD globally, with recent approvals in Dubai, while its current market share remains small at 0.24% of the stablecoin market.
Ripple Labs announced on Friday that it will launch its stablecoin Ripple USD (RLUSD) in Japan in the first quarter of 2026. The launch will be carried out in partnership with SBI Holdings, which is one of the largest financial groups in the country. Furthermore, the distribution will take place through SBI VC Trade, the licensed crypto exchange owned by SBI.
RLUSD in Focus
RLUSD was first introduced in December 2024. It is backed 1:1 with U.S. dollar deposits, short-term government bonds, and cash. Additionally, Ripple says this design ensures both transparency and security for its users.
As of Friday morning, RLUSD had a market capitalization of $666 million. Moreover, its 24-hour trading volume reached $71 million, according to CoinGecko. In contrast, its share is still smaller than other leading stablecoins. However, its steady growth shows that adoption is increasing over time.
Why It Matters for Japan
Tomohiko Kondo, CEO of SBI VC Trade, said the launch will expand stablecoin choices in Japan. Additionally, he noted that RLUSD will improve both the reliability and the convenience of stablecoins for Japanese users. As a result, the local market could see more trust and wider use of stablecoins.
https://twitter.com/Ripple/status/1958726205114565061
Japan’s Stablecoin Rules
Japan has already created a clear framework for stablecoins. In June 2023, amendments to the Payment Services Act came into effect, which introduced a licensing system for fiat-pegged tokens. As a result, only licensed institutions such as trust banks and fund transfer service providers are allowed to issue or distribute them.
SBI VC Trade was the first in Japan to receive a license as an Electronic Payment Instruments Exchange Service Provider. Meanwhile, the exchange already supports USDC and will now also add RLUSD. Therefore, this raises an important question: can clear regulations combined with SBI’s early advantage give Ripple a strong position in Japan?
Ripple’s Global Plan
Ripple is not limiting RLUSD to Japan. Instead, the company is also expanding it in other parts of the world. In June, regulators in Dubai approved it for payments inside the Dubai International Financial Centre, which is one of the most important financial hubs in the region. This approval added further strength to RLUSD’s global reach.
Meanwhile, the wider stablecoin sector continues to expand. The total supply of USD-pegged tokens rose to $266 billion this month, up from $256 billion at the start of August, according to data from The Block. With competition heating up, the question is: can RLUSD build its place alongside Tether’s USDT and Circle’s USDC?
A History of Partnership
Ripple and SBI have worked together for years. Their partnership started in 2016 with the launch of SBI Ripple Asia, created to expand Ripple’s technology across Asian markets. The new RLUSD launch builds on that history and deepens the relationship.
Even so, RLUSD remains small. Its market share is only 0.24% of the $280 billion stablecoin market. Yet its regulated structure and transparent reserves could make it appealing in Japan, where regulators and institutions value compliance.
It is still unclear if RLUSD will be limited to institutional use or also offered to retail investors. However, the move shows Ripple’s ambition to expand its stablecoin strategy. It also highlights Japan’s role as one of the most compliance-driven crypto markets in the world.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save