Ripple and SBI Group have launched Ripple USD in Japan after receiving approval from the Japan Financial Services Agency. The launch gives institutional and retail users access to RLUSD through SBI VC Trade’s VCTRADE platform. The move follows a memorandum of understanding that Ripple and SBI Group announced in August 2025. It also expands RLUSD into a regulated digital asset market with clear stablecoin rules.
JFSA Approval Opens RLUSD Access In Japan
The Japan Financial Services Agency approved RLUSD as a foreign-issued electronic payment instrument under the Payment Services Act. The classification covers stablecoins that meet Japan’s safety and regulatory standards for digital payments. SBI VC Trade will provide RLUSD access through its licensed platform for both retail and institutional customers.
Ripple said the launch supports broader access to regulated U.S. dollar-backed stablecoins in Japan. Jack McDonald, Ripple’s senior vice president of stablecoins, said RLUSD can support payments, tokenization, and collateral management. SBI VC Trade CEO Tomohiko Kondo said the launch extends the long-running partnership between Ripple and SBI Group.
The approval gives RLUSD a formal path into Japan’s digital asset market. Japan has developed a stablecoin framework that requires clear licensing, user protection, and compliance controls. For Ripple and SBI Group, the launch adds a regulated dollar stablecoin to SBI VC Trade’s product range.
Key Insights
- Ripple and SBI Group launched RLUSD in Japan after securing JFSA approval under payment rules.
- SBI VC Trade will offer RLUSD access to retail and institutional users through the VCTRADE platform.
- Japan classifies RLUSD as a foreign-issued electronic payment instrument under the Payment Services Act.
- Ripple says RLUSD can support payments, tokenization, collateral management, and cross-border dollar liquidity services globally.
- RLUSD reached $1.7 billion in market capitalization after launching in late 2024, according to Ripple data.
SBI VC Trade Brings RLUSD To Retail And Institutional Users
SBI VC Trade operates as a licensed crypto asset exchange service provider in Japan. The company also holds registration as a Type 1 Financial Instruments Service Provider and an Electronic Payment Instruments Exchange Service Provider. These licenses allow SBI VC Trade to handle digital assets and approved electronic payment instruments under Japanese rules.
The VCTRADE platform will serve as the main access point for RLUSD in Japan. Through this channel, customers can use a regulated platform backed by SBI Group’s financial services network. The rollout places RLUSD alongside SBI VC Trade’s existing crypto and stablecoin services.
SBI VC Trade previously became the first platform in Japan to handle USDC. The company has also expanded services for crypto asset management and corporate users. RLUSD now adds another U.S. dollar stablecoin option for clients seeking regulated digital finance products.
RLUSD Expands Ripple And SBI’s Long Partnership
Ripple and SBI Group have worked together since 2016 on blockchain-based financial infrastructure in Japan and Asia-Pacific. Their collaboration has covered cross-border payments, digital asset adoption, and enterprise finance projects. The RLUSD launch moves that partnership into the stablecoin market under Japan’s approved framework.
Ripple launched RLUSD in late 2024 as a U.S. dollar-backed stablecoin built for enterprise use. The company said RLUSD has reached $1.7 billion in market capitalization since launch. Ripple has positioned the token for faster settlement, clearer transaction records, and cross-border liquidity needs.
The launch also connects RLUSD to use cases that include programmable trade settlement and supply chain finance. Ripple said the stablecoin can help Japanese companies and users connect to global dollar liquidity. With SBI VC Trade support, RLUSD now enters Japan through an approved exchange service provider.
The rollout gives Ripple another regulated stablecoin channel in Asia after RLUSD entered several markets from late 2024. It also gives SBI Group a new product for customers seeking dollar exposure through licensed digital asset services.
