Ripple is set to expand its global stablecoin ambitions with the launch of Ripple USD (RLUSD) in Japan, partnering with one of the country’s most influential financial institutions, SBI Holdings. The move underscores both Ripple’s long-standing ties with Japan and the nation’s growing commitment to digital assets.
Ripple and SBI Holdings Strike New Agreement
Ripple has signed a memorandum of understanding (MoU) with SBI Holdings and its subsidiary SBI VC Trade Co. to bring its RLUSD stablecoin to the Japanese market. The launch is expected as early as the first quarter of 2026.
Targeting the $300 billion global stablecoin market, RLUSD currently accounts for just $668 million of the market share. By aligning with Japan’s robust financial ecosystem, Ripple aims to gain traction in a country that has shown increasing regulatory clarity and openness toward digital currencies.
SBI VC Trade CEO Tomohiko Kondo highlighted that the partnership would not only diversify stablecoin choices for Japanese users but also accelerate the “convergence of finance and fintech.”
Japan’s Growing Digital Assets Landscape
The RLUSD rollout comes as Japan intensifies efforts to strengthen its digital finance sector. Recently, the nation’s financial regulator announced plans to introduce a Yen-backed stablecoin, signalling a commitment to establishing stable digital currency frameworks. Ripple CEO Brad Garlinghouse previously remarked that such a development was “only a matter of time.”
Ripple CEO Brad Garlinghouse
Simultaneously, SBI Holdings is making moves to broaden its crypto-linked products, including exchange-traded funds (ETFs) on the Tokyo Stock Exchange designed to track Bitcoin (BTC) and XRP. These steps reflect Japan’s intent to position itself as a hub for crypto adoption and blockchain-driven innovation.
A Longstanding Ripple–SBI Partnership
Ripple and SBI share a deep history in Japan’s crypto evolution. In 2021, SBI launched the world’s first bank-owned cryptocurrency exchange, with Ripple’s backing. That same year, Ripple technology powered the launch of MoneyTap, a retail payments application now supported by 61 Japanese banks.
More recently, Ripple and SBI collaborated with HashKey to introduce supply chain solutions on the XRP Ledger in Japan. These ventures highlight Ripple’s strategic pivot toward Japan and Asia at large, particularly after the U.S. SEC lawsuit constrained its American expansion for four years.
RLUSD: Building a Trusted Stablecoin Future
Ripple’s Senior Vice President of Stablecoins, Jack McDonald, emphasised that the partnership with SBI is about more than technology, it is about creating a trusted and compliant financial future. RLUSD has already received regulatory approval in Dubai, further strengthening its credibility as a stablecoin positioned for cross-border use.
Ripple’s Senior Vice President of Stablecoins, Jack McDonald
The collaboration in Japan is expected to reinforce Ripple’s influence in Asia while offering users a secure USD-backed stablecoin option amidst a rapidly growing digital asset ecosystem. As Japan moves forward with its Yen stablecoin initiative, the coexistence of RLUSD and domestic alternatives could foster a more competitive and diverse market.
Ripple’s decision to launch RLUSD in Japan represents a natural extension of its strong ties with SBI Holdings and the country’s progressive stance toward digital assets. With its entry into one of Asia’s most mature financial markets, Ripple is not only diversifying stablecoin options but also cementing its long-term role in shaping global crypto adoption.
