Ripple, the crypto payments giant, is making a decisive move into Japan’s digital asset market through a strategic partnership with financial powerhouse SBI Holdings. The two firms have signed a memorandum of understanding (MoU) to introduce Ripple’s U.S. dollar–backed stablecoin, RLUSD, to Japanese customers.
The rollout, managed by SBI VC Trade, a licensed electronic payments exchange under SBI Holdings, is scheduled to begin in the first quarter of 2026.

What Makes RLUSD Different?
RLUSD is positioned as an enterprise-grade stablecoin, backed by a robust mix of U.S. dollar deposits, short-term Treasury securities, and cash equivalents. Ripple has also committed to providing monthly attestations from an independent accounting firm to ensure transparency and build trust among users and regulators.

This emphasis on compliance and transparency is designed to position RLUSD as a trusted bridge between traditional finance and digital assets, an increasingly critical requirement as stablecoins gain traction in regulated markets.
SBI’s Vision for Stablecoins in Japan
SBI VC Trade CEO Tomohiko Kondo highlighted that the arrival of RLUSD will not only broaden stablecoin options for Japanese consumers but also boost confidence in their use. He noted that Japan has historically been cautious yet forward-looking in its approach to cryptocurrency regulation, introducing one of the world’s earliest licensing regimes for crypto exchanges. Against this backdrop, the introduction of RLUSD represents more than just an additional digital asset in the market it signals a new stage in Japan’s journey toward digital financial innovation.
Kondo emphasized that stablecoins like RLUSD could play a critical role in making payments faster, cheaper, and more reliable for both consumers and businesses. By being fully backed and regularly audited, RLUSD could address lingering concerns around volatility, transparency, and risk, making it a trusted digital alternative to traditional yen or dollar transactions. Beyond retail use, he suggested that the partnership between SBI and Ripple could unlock opportunities for corporate treasury management, cross-border settlements, and integration with Japan’s expanding digital payments ecosystem.
According to Kondo, this collaboration positions Japan as a leader in setting global standards for safe, regulated stablecoin adoption. He added that SBI will continue working with Ripple to build a secure and transparent financial infrastructure that bridges traditional banking with blockchain technology paving the way for greater trust, innovation, and international competitiveness in the Japanese financial sector.
Ripple’s Long-Term Strategy
For Ripple, the partnership underscores its broader strategy of blending regulatory compliance with innovation, a balance that has become increasingly vital as governments worldwide tighten rules around digital assets. Unlike many early stablecoin projects that operated with minimal oversight, Ripple has consistently sought to work with regulators and financial institutions to build credibility. By ensuring RLUSD is backed by transparent reserves and subject to monthly attestations, Ripple is not only addressing concerns about stability and security but also setting a benchmark for how stablecoins can coexist with traditional finance.

Jack McDonald, Ripple’s SVP of Stablecoins, emphasized that RLUSD is designed to be an industry standard a stablecoin that financial institutions, enterprises, and even regulators can rely on. Beyond serving as a digital cash equivalent, Ripple envisions RLUSD as a foundational tool for cross-border settlements, liquidity management, and decentralized finance applications, particularly in regions like Asia where demand for efficient payment systems is soaring. This approach highlights Ripple’s competitive edge: while some stablecoins focus primarily on retail adoption, RLUSD is being positioned for enterprise and institutional use cases, reinforcing Ripple’s long-term goal of building a compliant and scalable financial infrastructure that integrates seamlessly with both Web3 innovation and the existing banking system.
This announcement follows Ripple’s $200 million acquisition of stablecoin payments platform Rail earlier this month, expanding its product offerings with infrastructure that connects fiat systems and stablecoin technology.
The Bigger Picture
Japan is quickly becoming a testing ground for regulated stablecoins. Just earlier this year, Circle launched USDC in Japan through a collaboration with SBI Holdings. Ripple’s RLUSD entry signals growing competition and growing acceptance of stablecoins as an integral part of the country’s financial system.
As 2026 approaches, all eyes will be on how Ripple and SBI execute this rollout, potentially setting a new benchmark for stablecoin adoption in Asia’s highly regulated financial markets.
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