Stablecoin RLUSD officially lands in Japan! Ripple receives approval from the Financial Services Agency, partners with SBI.

Blockchain payment company Ripple announced that its U.S. dollar stablecoin RLUSD has received approval from Japan’s Financial Services Agency and, together with financial giant SBI, will be issued and circulated in Japan, further expanding its global business footprint.

Competition in Japan’s stablecoin market continues to intensify. Just as Japan’s first yen stablecoin, JPYSC, supported by a trust bank, was introduced, blockchain payment company Ripple has also officially brought its U.S. dollar stablecoin RLUSD into the Japanese market, further expanding its global business footprint.

Ripple officially announced on Wednesday that its U.S. dollar stablecoin “RLUSD” has been approved for issuance and circulation in Japan. It has also officially gone live through its partnership with Japanese financial giant SBI Holdings and its cryptocurrency trading platform, SBI VC Trade, opening access to both institutional and retail traders.

Jack McDonald, Senior Vice President of Ripple’s stablecoin business, stated:

Through its partnership with the SBI Group, RLUSD will become an important bridge for payments, asset tokenization, and collateral management, helping Japanese businesses and individuals connect more efficiently with global liquidity markets.

According to Ripple, Japan’s Financial Services Agency (FSA) has classified RLUSD as a new type of electronic payment instrument under the Payment Services Act. This means RLUSD has a lawful and compliant status in Japan and can provide related financial services within the existing regulatory framework.

RLUSD was officially launched in 2024. It is an important product in Ripple’s recent efforts to actively expand into the stablecoin market, featuring 1:1 reserves-backed assets, including U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents, to ensure asset safety and transparency.

According to CoinGecko’s latest data, RLUSD’s current market capitalization has reached $1.6 billion, and its trading volume over the past 24 hours was $116.7 million.

In recent months, Japan has been going all out in the adoption and development of stablecoins. Earlier on Wednesday, the SBI Group only just partnered with Singapore fintech startup Startale Group to launch Japan’s first trust bank-backed yen stablecoin, “JPYSC.”

In addition, Japan’s three major traditional financial banks—Mitsubishi UFJ (MUFG), Sumitomo Mitsui (SMBC), and Mizuho Financial Group (Mizuho)—have also been laying the groundwork intensively for a long time. And at the beginning of this month, they officially announced that, by March 2027, they plan to jointly issue stablecoins and formally apply them to commercial transactions.

• This article is republished with authorization from: Blockcast.cc
• Original title: “Approved by the FSA and Partnering with SBI! Ripple Stablecoin RLUSD Officially Lands in Japan”
• Original author: Block Sister Mel