Ripple is preparing to expand its stablecoin operations into Asia by introducing its dollar-backed token, Ripple USD (RLUSD), to the Japanese market in early 2026.
The move comes through a strategic partnership with Japanese financial conglomerate SBI Holdings and its licensed crypto exchange unit, SBI VC Trade.
The rollout is expected during the first quarter of 2026 under a newly signed memorandum of understanding between the two companies.
With Japan set to approve its first officially sanctioned stablecoin, Ripple’s entry marks a significant step in shaping competition in the local digital assets sector.
RLUSD to be distributed in Japan through SBI VC Trade
Ripple announced today that SBI VC Trade will handle the distribution of RLUSD in Japan.
This partnership leverages SBI Holdings’ strong domestic presence in financial services and its established digital assets business.
The initiative aims to broaden stablecoin availability in the country at a time when Japanese regulators are finalising rules for the introduction of local stablecoins.
The deal signals Ripple’s deeper integration into Japan’s crypto market, where regulatory clarity and institutional backing are expected to encourage stablecoin adoption.
The collaboration is also designed to strengthen Ripple’s ties with traditional finance while bridging them with decentralised systems.
RLUSD’s current market position with $666 million capitalisation
RLUSD, first launched in December 2024, is fully backed by US dollar deposits, short-term Treasury securities, and other liquid cash equivalents.
Its reserves are independently attested every month, providing transparency for users and institutions.
As of August, RLUSD’s market capitalisation stood at $666 million, making it the eighth-largest stablecoin globally by value.
This places it just behind PayPal USD in CoinMarketCap’s rankings. Ripple’s planned rollout in Japan will add to this position, further expanding its share of the global stablecoin market.
Expansion follows approval in Dubai earlier this year
The Japanese launch comes on the heels of Ripple’s approval from the Dubai Financial Services Authority in June 2025.
That authorisation allowed RLUSD to integrate into the region’s regulated payments ecosystem, expanding its reach across the Middle East.
The move into Japan represents Ripple’s continued effort to grow RLUSD beyond its current markets and align with regions pushing forward with stablecoin regulations.
By working with licensed exchanges and financial conglomerates, Ripple positions RLUSD as a compliant product ready to integrate into cross-border payments and retail use cases.
Japan preparing for first government-approved stablecoin
Ripple’s entry also aligns with Japan’s progress towards introducing its first officially sanctioned stablecoin.
By linking RLUSD with SBI VC Trade, the stablecoin could play a role in shaping how Japanese consumers and institutions adopt digital money under the new framework.
The Japanese rollout represents not only a geographic expansion but also a test of stablecoin adoption under one of the most regulated financial markets in Asia.
With $666 million already in circulation, RLUSD’s presence in Japan could set a benchmark for its adoption in other regions pursuing stablecoin regulation.
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