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Ripple and SBI to launch RLUSD stablecoin in Japan by 2026

Ripple and Japan’s SBI Holdings have signed a memorandum of understanding to distribute Ripple USD (RLUSD), the blockchain company’s dollar-backed stablecoin, in Japan by the first quarter of 2026.

The deal will see SBI VC Trade, a subsidiary of SBI Holdings and the first licensed Electronic Payment Instruments Exchange Service Provider in Japan, become the exclusive distributor of RLUSD in the country. The move follows Japan’s regulatory approval of stablecoins in 2023, which paved the way for banks and licensed entities to issue and handle the tokens.

Ripple said RLUSD is fully backed by US dollar deposits, short-term US government treasuries and other cash equivalents, with monthly attestations published by an independent auditor. The firm has positioned the token as an institutional-grade asset designed for compliance and transparency.

Jack McDonald, Ripple’s senior vice president of stablecoins, said in a statement: “The distribution of RLUSD in Japan with SBI VC Trade is a culmination of that work. RLUSD is designed to be a true industry standard, providing a reliable and efficient bridge between traditional and decentralised finance”.

SBI VC Trade chief executive Tomohiko Kondo said the partnership would give Japanese users access to a more reliable stablecoin option. “The introduction of RLUSD will not just expand the option of stablecoins in the Japanese market, but is a major step forward in the reliability and convenience of stablecoins in the Japanese market, and an important step in accelerating the convergence of finance and digital technology”.

The partnership is expected to strengthen Ripple’s footprint in Asia, where it already collaborates with SBI on cross-border remittances using XRP. It also comes amid growing competition among stablecoin issuers in Japan, where Circle has been in talks with local firms to expand distribution of USDC.

Global demand for stablecoins has exceeded USD 300 billion, according to CoinDesk, with analysts forecasting the sector could approach trillion-dollar valuations within the next few years. Ripple and SBI are betting that a regulated and audited token will find strong demand among corporates and financial institutions in Japan.

RLUSD distribution in Japan is expected to begin in early 2026, pending final regulatory and technical preparations.

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