Ripple Partners SBI to Launch USD Stablecoin in Japan by Early 2026

Ripple has signed a memorandum of understanding with Japanese financial conglomerate SBI Holdings to distribute its USD-backed stablecoin RLUSD in Japan through SBI's licensed cryptocurrency exchange subsidiary, the firm announced today.

The partnership with SBI VC Trade, which holds an Electronic Payment Instruments Exchange Service Provider license in Japan, aims to make RLUSD available to users in the country during the first quarter of 2026.

SBI VC Trade was among the first firms to obtain Japan's stablecoin exchange license and currently handles other digital dollar tokens in the Japanese market. The addition of RLUSD will expand stablecoin options for Japanese investors and institutions as the global stablecoin market approaches $300 billion in value.

"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," said SBI VC Trade CEO Tomohiko Kondo in a statement announcing the partnership.

Ripple's RLUSD is backed by US dollar deposits, short-term government bonds, and cash equivalents, with monthly third-party attestations providing transparency on reserve holdings. The stablecoin design targets enterprise and institutional users seeking regulatory compliance in digital dollar transactions.

Jack McDonald, Ripple's senior vice president of stablecoins, characterized the partnership as extending beyond technology to "building a trusted and compliant financial future." He positioned RLUSD as bridging traditional and decentralized finance systems.

The collaboration builds on an existing relationship between Ripple and SBI Group, which has previously supported Ripple's cross-border payment initiatives. SBI Holdings operates securities, banking, and digital asset businesses across Japan and other Asian markets.

Japan has developed comprehensive regulations for stablecoin issuers and exchange operators, requiring proper licensing and reserve backing for USD-pegged tokens. The regulatory framework has enabled major stablecoin operators to serve Japanese customers through licensed platforms.

The stablecoin market has grown rapidly as institutional adoption increases, with major financial institutions incorporating digital dollars into treasury operations and payment systems. Industry projections suggest the sector could reach trillions of dollars in value as mainstream financial integration accelerates.