Ripple and SBI Build Institutional Bridge Between Japan and DeFi with RLUSD Push

Ripple and SBI Holdings are advancing plans to bring Ripple USD (RLUSD) to Japan's growing stablecoin market, with the goal of enhancing the country’s digital finance infrastructure. The two companies have signed a memorandum of understanding, under which SBI VC Trade—SBI’s licensed crypto asset exchange subsidiary—will serve as the distributor of RLUSD in Japan. The stablecoin is expected to be available in the country during the first quarter of 2026, pending regulatory and operational developments.

RLUSD is a U.S. dollar-backed stablecoin fully collateralized by U.S. dollar deposits, short-term U.S. government securities, and cash equivalents. The token is designed to maintain transparency through monthly third-party attestations, which Ripple argues positions it as a more compliant and institutional-grade alternative to other stablecoins. This structure, according to Ripple, offers a “reliable and efficient bridge between traditional and decentralized finance.”

SBI VC Trade CEO Tomohiko Kondo emphasized the broader implications of the initiative, stating that the introduction of RLUSD will not only expand stablecoin options in Japan but also advance the reliability and convenience of stablecoins in the market. He highlighted this move as a crucial step toward accelerating the convergence of traditional finance and digital technology.

The partnership builds on a long-standing collaboration between Ripple and SBI Group, which has been instrumental in developing blockchain and crypto infrastructure in Japan. SBI VC Trade became the first entity in the country to obtain the Electronic Payment Instruments Exchange Service Provider license, which allows it to handle foreign-issued stablecoins. This regulatory environment has been shaped by amendments to Japan’s Payment Services Act, which began in 2022 and were further refined in 2023. These updates created a licensing framework for electronic payment instruments and eased reserve requirements, enabling regulated entities like SBI to distribute fiat-pegged stablecoins.

The RLUSD initiative is one of several stablecoin-related projects being pursued by SBI. The company also announced a joint venture with Circle, the issuer of USDC, and formed partnerships with other blockchain entities including Startale. SBI has been actively exploring tokenized assets and real-world asset (RWA) trading platforms, aiming to provide 24/7 settlement and liquidity through blockchain technology.

Analysts suggest that Ripple’s entry into Japan, supported by SBI’s regulatory expertise and market reach, is well-positioned to succeed. The Japanese market is known for its structured regulatory environment, which prioritizes compliance and transparency. RLUSD’s institutional branding and reserve transparency could give it a competitive edge in a market where regulators, banks, and corporations place high value on trust and reliability. As stablecoins continue to play a central role in global financial infrastructure, Ripple and SBI’s collaboration is seen as a strategic move to capture institutional demand and drive stablecoin adoption in Asia.

Source:

[1] 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)

[2] Ripple and SBI plan to distribute RLUSD in Japan (https://ripple.com/ripple-press/ripple-and-sbi-plan-to-distribute-rlusd-in-japan/)

[3] SBI Forms New Ties With Circle, Ripple And Startale (https://cointelegraph.com/news/sbi-japan-blockchain-partnership-circle-ripple-startale)

[4] Ripple and SBI to Launch RLUSD Stablecoin in Japan by (https://finance.yahoo.com/news/ripple-sbi-launch-rlusd-stablecoin-055619508.html)

[5] SBI to distribute Ripple's RLUSD in Japan as part of (https://www.ledgerinsights.com/sbi-to-distribute-ripples-rlusd-in-japan-as-part-of-broader-stablecoin-push/)