Ripple has partnered with SBI Holdings, a Japanese financial conglomerate, to introduce Ripple USD (RLUSD) stablecoin to the Japanese market as early as the first quarter of 2026.
In a statement released Friday, Ripple said it plans to distribute RLUSD in Japan through SBI VC Trade, the crypto arm of SBI Holdings.
“SBI Group has been leading the development of the cryptocurrency and blockchain field in Japan,” said SBI VC Trade CEO Tomohiko Kondo. “The introduction of RLUSD will not just expand the option of stablecoins in the Japanese market, but is a major step forward in the reliability and convenience of stablecoins in the Japanese market.”
RLUSD, launched in December 2024, is backed 1:1 by reserves including U.S. dollar deposits, short-term U.S. government bonds, and other cash equivalents, according to Ripple.
RLUSD has a market capitalization of $666 million, with a 24-hour trading volume of $71 million as of 2:20 a.m. ET Friday, according to CoinGecko data.
Ripple’s stablecoin move comes amid a broader boom across the stablecoin market. The supply of USD-pegged stablecoins reached $266 billion as of Thursday, up from $256 billion on Aug. 1, according to The Block’s data dashboard.
In June, the Dubai Financial Services Authority approved RLUSD as a payment rail within the Dubai International Financial Centre, expanding the stablecoin’s footprint in the region.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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