Ripple and SBI Group Plans To Bring RLUSD Stablecoin To Japan

Earlier today, on August 22nd, Ripple and SBI Group announced their plan to distribute Ripple USD, or RLUSD, in Japan through SBI VC Trade. The partners signed a memorandum of understanding that lays out the plan. 

SBI VC Trade is a licensed electronic payment exchange service provider in Japan. The move aims to offer a new stablecoin option to local users and institutions. Ripple and SBI say the token will reach Japan in the first quarter of 2026.

What does the partnership cover?

Under the MOU, SBI VC Trade will handle distribution inside Japan, and the company is a unit of SBI Holdings and holds the required license to run an exchange for electronic payment instruments. 

Ripple will provide the stablecoin and related infrastructure, and the partners say the deal is meant to boost trust and access for businesses and banks that want a compliant stablecoin option.

About RLUSD and the market

RLUSD is presented as an enterprise-grade stablecoin, and it is backed by U.S. dollar deposits, short-term U.S. government bonds, and other cash equivalents. 

The reserves are checked each month by an outside accounting firm. That is meant to give institutions more clarity on what backs the coin and how it is audited.

The stablecoin market is already large, and it is valued at nearly $300 billion today. Industry observers expect the market to grow into the trillions as stablecoins gain more use in payments, settlements, and cross-border flows. 

The partners say the next phase of growth will come from real utility and institutional demand.

Views from SBI VC Trade and Ripple

Tomohiko Kondo, CEO of SBI VC Trade, said the company has led crypto development in Japan. He said obtaining the electronic payment instrument exchange license was a key step. 

He added that adding RLUSD will expand stablecoin choice in Japan and boost reliability and convenience for users. Kondo said the move will help bring finance and digital tech closer together and that SBI will work with Ripple to build a safe and open system.

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Jack McDonald, Ripple’s senior vice president of stablecoins, said the partnership is about trust as much as tech. He said RLUSD aims to be an industry standard that links traditional finance and decentralised finance. 

McDonald said Ripple and SBI expect the coin to increase stablecoin use in Japan and to raise the bar for market practice.

Timeline and other developments

SBI VC Trade expects to offer RLUSD in Japan in Q1 2026. Ripple is also reported to be acquiring Rail, a stablecoin payments platform, for $200 million. That deal is expected to close in Q4, subject to regulatory approval.

In Japan, regulators are moving as well, and the Financial Services Agency is preparing to approve the first yen-backed stablecoin, with permission expected this autumn.

The combined push from firms and regulators shows that stablecoins are now a major topic for Japan’s financial sector.

What could this mean?

If RLUSD is adopted by banks and large firms, it could widen the use of stablecoins in Japan. The monthly attestations and focus on high-quality reserves are meant to address rule and trust concerns. For firms that need fast, low-cost transfers, a compliant stablecoin could be a useful tool.

At the same time, wider use will raise questions for policymakers. Regulators will watch liquidity, reserve quality, and how stablecoins interact with the local currency system. Market work by major players like Ripple and SBI will likely shape that debate.

Also Read: Japan’s SBI Holdings To Launch Crypto-Linked ETFs Featuring XRP and Bitcoin