Ripple Secures Japanese Approval for Stablecoin Launch
Ripple has received the green light from the Japanese Financial Services Agency (JFSA) to introduce its stablecoin to the country, following an extended collaboration with its long-standing local partner, SBI Group.
The company’s Senior Vice President of Stablecoins lauded Japan’s regulatory environment, characterizing it as a leader in cryptocurrency adoption. The approval was facilitated by SBI Holdings, through its subsidiary SBI VC Trade Co., LTD, which holds a license as an Electronic Payment Instruments Exchange Service Provider. This partnership will enable the launch of RLUSD in the Japanese market.
The two entities initially formalized their collaboration with a memorandum of understanding (MoU) in August of this year. This official launch signifies the stablecoin’s significant entry into what they described as one of the most “sophisticated and forward-looking digital assets markets.”
According to the JFSA license, RLUSD is classified as a new category of electronic payment instrument under Japan’s Payment Services Act. It is designed for foreign-issued stablecoins, ensuring adherence to the safety and regulatory standards mandated by local law. Both institutional and retail users will be able to access Ripple’s stablecoin via SBI VC Trade’s VCTRADE platform.
“Japan has long been a leader in digital asset adoption, underpinned by both regulatory clarity and financial innovation,” stated Jack McDonald, Ripple’s Senior VP of Stablecoins. “This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers, and businesses in Japan.”
Tomohiko Kondo, CEO of SBI VC Trade, also expressed his satisfaction with the enduring partnership between his company and Ripple, highlighting the RLUSD launch in Japan as a significant recent achievement for both organizations.
Despite facing legal challenges in the United States, Ripple successfully launched its proprietary stablecoin in late 2024. Primarily targeting institutional investors, RLUSD has experienced considerable adoption growth across various sectors over the past two years, including from major entities like Mastercard.
Ripple has engaged with numerous exchanges to bolster the stablecoin’s usability and liquidity. Data from CoinGecko indicates that RLUSD’s market capitalization has reached $1.6 billion, a figure slightly below the $1.7 billion reported by Ripple. Nonetheless, it remains among the top 50 largest cryptocurrencies by market cap and ranks as the 10th largest within the stablecoin sector.
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