RLUSD has obtained a Japanese license—is it going to go head-to-head with USDC in the Asian stablecoin market?

CoinJie.com news: Ripple’s $1.7 billion RLUSD stablecoin has received approval in Japan and can be used as a new electronic payment method in Japan, offered to retail and institutional users via SBI VC Trade. This makes RLUSD the second dollar-backed stablecoin approved in Japan after Circle’s USDC, joining JPYS, a yen-based stablecoin, in entering Japan’s regulated market. In addition, Ripple also received preliminary MiCA approval in Luxembourg this week, further expanding its presence in the Japanese and European markets.