Ripple Teams Up With SBI to Launch RLUSD Stablecoin in Japan by 2026

Ripple has partnered with SBI Holdings, one of Japan’s largest financial institutions, to introduce its stablecoin Ripple USD (RLUSD) into the Japanese market by early 2026 [1]. The collaboration, formalized through a memorandum of understanding on August 22, designates SBI VC Trade as the exclusive distribution partner for Ripple’s enterprise-grade stablecoin in the country [2]. SBI VC Trade, which holds Japan’s Electronic Payment Instruments Exchange Service Provider license, will serve as the primary distribution channel for RLUSD and will ensure compliance with local regulatory requirements, including KYC and AML protocols [3].

RLUSD is designed to meet the specific demands of institutional investors, offering full backing by U.S. dollar deposits, short-term government bonds, and cash equivalents. Monthly attestations by third-party accounting firms will ensure transparency and adherence to regulatory standards [4]. As of August 2025, the stablecoin market had reached nearly $274 billion, with RLUSD valued at $667 million [5]. Industry observers anticipate significant growth in the coming years, driven by increasing institutional adoption and the expansion of use cases [6].

The collaboration between Ripple and SBI is a continuation of a long-standing partnership that began in 2016, initially focused on cross-border payment solutions in Asia [7]. SBI has previously supported XRP adoption in Japan, making the RLUSD initiative a natural progression of their cooperation. Additionally, the Japanese regulatory environment, particularly the framework for Electronic Payment Instruments, provides a clear and stable environment for stablecoin operations [8].

SBI’s broader digital asset strategy includes multiple initiatives beyond the RLUSD partnership. On the same date as the Ripple announcement, SBI also established joint ventures with Circle and Startale Group. The Circle partnership aims to promote USDC in Japan and develop new Web3 applications, while the Startale collaboration targets the tokenized asset market, including fractional ownership and cross-border settlements [9]. SBI also acquired $50 million in shares of Circle following its NYSE listing, further solidifying its presence in the stablecoin ecosystem [10].

SBI Holdings, a financial group managing over 11 trillion JPY ($74 billion) in assets, serves 65 million customers globally, providing a strong foundation for expanding its crypto offerings. The company’s multi-pronged approach—covering stablecoin distribution, tokenized asset trading, and institutional crypto services—reflects a strategic effort to align with the structural transformation of global financial markets [11].

Industry analysts suggest that the RLUSD launch could accelerate stablecoin adoption in Japan and influence regulatory developments in the region. The success of the initiative will depend on market demand, regulatory clarity, and the seamless integration of RLUSD into SBI VC Trade’s existing services [12].

Sources:

[1] Ripple and SBI to Launch RLUSD Stablecoin in Japan by 2026 (https://coincentral.com/ripple-and-sbi-to-launch-rlusd-stablecoin-in-japan-by-early-2026/)

[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] SBI Partners With Ripple To Roll Out $RLUSD Stablecoin in Japan (https://www.banklesstimes.com/articles/2025/08/22/sbi-partners-with-ripple-to-roll-out-rlusd-stablecoin-in-japan/)

[4] Ripple and SBI Plan RLUSD Stablecoin Distribution in Japan by 2026 (https://finance.yahoo.com/news/ripple-sbi-plan-rlusd-stablecoin-042231203.html)

[6] Ripple, SBI Group to Roll Out RLUSD in Japan (https://finance.yahoo.com/news/ripple-sbi-group-roll-rlusd-113107887.html)

[7] Ripple And TradFi Giant SBI Partner To Roll Out RLUSD Stablecoin in Japan (https://zycrypto.com/ripple-and-tradfi-giant-sbi-partner-to-roll-out-rlusd-stablecoin-in-japan-by-early-2026/)

[8] Ripple And Banking Giant SBI To Roll Out RLUSD Across Japan (https://bitcoinist.com/ripple-sbi-roll-out-rlusd-across-japan/)

[9] SBI VC Trade Became Japan’s First Registered Electronic Payment Instruments Service Provider in March 2025 (https://coinmarketcap.com/community/articles/68a946173927f1399a2f8eec/)

[12] Analysis based on public statements and prior market dynamics.