Japan Gets a U.S. Dollar Stablecoin Powerhouse in 2026 via SBI and Ripple

Ripple’s Legally-Compliant RLUSD Stablecoin to Begin Distribution in Japan via SBI from 2026

Ripple and SBI Holdings have announced plans to distribute Ripple USD (RLUSD) in Japan beginning in the first quarter of 2026, capitalizing on the country’s evolving regulatory environment for stablecoins. The move, formalized through a memorandum of understanding, positions SBI VC Trade—a licensed Electronic Payment Instruments Exchange Service Provider—as the distributor of RLUSD in the Japanese market. This initiative marks Ripple’s first foray into international stablecoin distribution beyond the U.S. and aligns with broader efforts to establish RLUSD as a compliant and institutional-grade digital asset [2].

RLUSD, launched in December 2024, is fully backed by U.S. dollar deposits, short-term Treasuries, and cash equivalents. The stablecoin is subject to monthly third-party attestations, ensuring transparency and regulatory adherence. Ripple executives have emphasized that this structure differentiates RLUSD by providing a reliable bridge between traditional finance and decentralized systems. The firm’s senior vice president of stablecoins, Jack McDonald, described RLUSD as a "true industry standard" aimed at enhancing cross-border payment efficiency and tokenized financial services [2].

The distribution plan in Japan follows recent regulatory developments, including the approval of the first yen-denominated stablecoin by the Financial Services Agency (FSA). Fintech company JPYC, which recently secured Japan’s first funds transfer service provider license, is expected to launch its regulated yen stablecoin by October 2025. The introduction of such tokens reflects Japan’s broader strategy to modernize its digital finance infrastructure and expand the use cases for stablecoins in cross-border transactions [3].

SBI executives have framed the collaboration with Ripple as a milestone in strengthening Japan’s digital finance ecosystem. Tomohiko Kondo, CEO of SBI VC Trade, noted that 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." The partnership also builds on the long-standing relationship between Ripple and SBI in Asia’s blockchain sector, with both companies exploring synergies in decentralized infrastructure and payment innovation [2].

The rollout of RLUSD in Japan is expected to complement the growing demand for stablecoins in the country. Currently, Japan’s digital asset market has limited options for yen-backed stablecoins, with strict KYC regulations and limited local offerings. The introduction of RLUSD could offer traders and institutions an alternative to existing fiat-backed tokens while maintaining compliance with domestic regulatory standards. This development is also timely, as Japan’s FSA continues to refine its stablecoin framework, now recognizing three distinct types of digital currencies under the Payment Services Act [5].

Source:

[1] Ripple USD, Chart, & Supply Details - RLUSD Price (https://www.gemini.com/prices/ripple-usd)

[2] Ripple News: RLUSD Stablecoin to be Distributed in Japan (https://www.coindesk.com/markets/2025/08/22/ripple-sbi-plan-rlusd-stablecoin-distribution-in-japan-by-2026)

[3] Stablecoin News: Japan's Regulator to Approve First Yen-Denominated Stablecoin (https://www.coindesk.com/policy/2025/08/18/japan-s-financial-regulator-to-approve-first-yen-denominated-stablecoin-report)

[4] 'JPYC' Could Become Japan's First Local Stablecoin (https://coingeek.com/jpyc-could-become-japan-first-local-stablecoin/)

[5] Japanese Stablecoin Issuer JPYC Receives a License (https://www.ledgerinsights.com/japanese-stablecoin-issuer-jpyc-receives-a-license/)