Key Takeaways
- Ripple plans to launch its stablecoin in Japan as early as Q1 2026.
- RLUSD currently comprises a market cap of $667 million.
- Ripple and SBI have worked together on several initiatives.
Ripple (XRP) has outlined intentions to launch its RLUSD stablecoin in Japan alongside one of the nation’s biggest financial institutions, SBI Holdings.
RLUSD in Japan
As per the announcement, Ripple has signed a memorandum of understanding with SBI Holdings and its subsidiary, SBI VC Trade Co., with the intention of launching the Ripple USD (RLUSD) stablecoin in Japan. Which could come as early as Q1 2026.
Targeting the $300 billion stablecoin market, RLUSD currently comprises just $668 million of that figure.
SBI VC Trade CEO, Tomohiko Kondo, noted that this will not only expand stablecoin options in Japan, but also further accelerate “the convergence of finance and fintech.”
It follows recent news that SBI had filed to launch new ETFs on the Tokyo Stock Exchange, one of which is structured to track the performance of BTC and XRP.
The development also comes just as Japan’s financial regulator lays out plans to launch a Yen-backed stablecoin, further signalling the nation’s renewed commitment to its bustling digital assets sector.
Garlinghouse previously commented on the Yen stablecoin launch, stating it was “only a matter of time”. RLUSD recently got the green light in Dubai.
Ripple’s Senior Vice President of Stablecoins, Jack McDonald, stated in the release that its partnership with SBI “has always been about more than just technology, it’s about building a trusted, compliant financial future.”
In fact, the relationship between SBI and Ripple goes back years.
A Ripple in Time
SBI was the first to launch the world’s first bank-owned crypto exchange in Japan back in 2021. It did so with support from Ripple.
That same year, Ripple’s tech was leveraged by SBI to create “MoneyTap“, a retail payments app adopted by 61 Japanese banks.
There’s also something to be said of Ripple’s presence in Japan. The U.S. Securities and Exchange (SEC) lawsuit put Ripple’s U.S. ambitions on ice for four years, and so it sought greener pastures for its business.
Naturally, it would team up with SBI Group again and bring in HashKey to launch supply chain solutions in Japan using the XRP Ledger network.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
