Ripple’s RLUSD stablecoin is now live in Japan as of June 25, 2026, following approval from the country’s Financial Services Agency. The launch makes Japan one of the first major Asian markets where the dollar-backed token can operate under a fully regulated framework.
Distribution is handled through SBI VC Trade, a subsidiary of SBI Holdings, which has been one of Ripple’s closest strategic partners for years. The two companies signed a memorandum of understanding back on August 22, 2025, laying the groundwork for what would become a months-long process of regulatory alignment and operational setup.
How the pieces came together
The initial distribution of RLUSD through SBI VC Trade actually started on March 31, 2026, nearly three months before the formal public announcement.
What made the timing possible was a critical regulatory update that took effect on June 1, 2026. Japan’s revised Payment Services Act now classifies foreign-issued stablecoins backed by trust structures as “electronic payment instruments.” Stablecoins issued outside Japan, as long as they meet certain reserve and oversight requirements, can now legally function as payment tools within the country.
