Ripple and SBI Holdings announced a memorandum of understanding to distribute Ripple’s stablecoin RLUSD in Japan through SBI VC Trade. The partnership aims to launch RLUSD in Japan during the first quarter of 2026.
Strategic Partnership for Stablecoin Distribution
SBI VC Trade, a licensed Electronic Payment Instruments Exchange Service Provider, will be the distribution partner for RLUSD in Japan. The collaboration represents a significant expansion of Ripple’s stablecoin presence in the Asian market. SBI Group is Japan’s first company to obtain the Electronic Payment Instrument Exchange Service Provider License.
RLUSD is designed as an enterprise-grade stablecoin backed by high-quality reserves, including US dollar deposits and short-term government bonds.
SBI VC Trade CEO Tomohiko Kondo emphasized that introducing RLUSD will expand stablecoin options in Japan while improving reliability and convenience. Jack McDonald, Ripple’s Senior Vice President of Stablecoins, highlighted the collaboration’s focus on building trusted and compliant financial infrastructure.
First Exchange in Japan to Serve Stablecoin
SBI VC Trade’s experience with stablecoins began in March 2025, when it became Japan’s first exchange to secure regulatory approval for USDC distribution. Early in the month, the company obtained Electronic Payment Instruments Exchange Service Provider registration from Japan’s Financial Services Agency. USDC launched on SBI VC Trade on March 26, 2025, marking the first officially approved stablecoin in Japan’s regulated financial market.
Circle’s USDC achieved $1 trillion in monthly trading volume by November 2024, with 78% year-over-year circulation growth. The RLUSD introduction builds upon this foundation, with Ripple’s partnership involving Standard Custody & Trust Company as the specific subsidiary managing the arrangement. This expansion aligns with Ripple’s broader strategy to enter Real World Assets markets using RLUSD as a cornerstone product.
Japan’s Financial Services Agency approved JPYC as the nation’s first yen-denominated stablecoin earlier this month. Circle, the issuer of USDC, invested 500 million yen in Tokyo-based JPYC Inc. through Series A funding.
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