Crypto firm Ripple has revealed plans to expand its RLUSD stablecoin into Japan by 2026.
On Aug. 22, the stablecoin issuer announced that it had signed a memorandum of understanding with SBI VC Trade, a Japanese financial powerhouse SBI Holdings subsidiary.
According to the statement, SBI would distribute RLUSD in Japan and work with Ripple to “build a safe and transparent financial infrastructure.” SBI VC Trade is Japan’s first licensed Electronic Payment Instruments Exchange Service Provider allowed to handle stablecoins.
Speaking on the move, SBI VC Trade CEO Tomohiko Kondo said the initiative is more than a mere expansion of stablecoin options in Japan.
According to him:
“[This] is a major step forward in the reliability and convenience of stablecoins in the Japanese market, and an important step in further accelerating the convergence of finance and digital technology.”
The timing of the MOU aligns with Japan’s broader push to clarify stablecoin regulations.
Earlier this month, Japan’s Financial Services Agency (FSA) began reviewing proposals for a yen-pegged stablecoin to support cross-border payments, corporate transactions, and DeFi applications.
RLUSD expansion
Meanwhile, this move marks a major expansion for RLUSD, which has seen encouraging adoption since its launch in December 2024.
The stablecoin’s market capitalization has grown to $666.74 million, with $580.84 million issued on Ethereum. According to DeFiLlama data, the $85.91 million balance is on the XRP Ledger.
This growth can be linked to the increased institutional adoption of stablecoins. Notably, RLUSD was one of the several assets used by Bullish crypto exchange to settle its $1.1 billion IPO proceeds.
Furthermore, the enhanced US regulatory environment, together with Ripple’s pursuit of a national banking charter for RLUSD and its registration with the New York Department of Financial Services, strengthens the stablecoin’s regulatory standing.
This combination makes RLUSD the first digital asset in the country to operate under both state and federal oversight.
Jack McDonald, Ripple’s Senior Vice President of Stablecoins, said:
“RLUSD is designed to be a true industry standard, providing a reliable and efficient bridge between traditional and decentralized finance.”
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