Enterprise blockchain company Ripple has announced a strategic partnership with Japanese financial giant SBI Holdings to bring its regulated Ripple USD (RLUSD) stablecoin to the Japanese market. The distribution will be handled through SBI VC Trade, the cryptocurrency exchange arm of SBI Holdings, starting in the first quarter of 2026.
SBI VC Trade CEO Tomohiko Kondo stated that the introduction of RLUSD represents a "major step forward in the reliability and convenience of stablecoins" for the Japanese market. The exchange holds multiple Japanese financial licenses, including being the country's first Electronic Payment Instruments Exchange Service Provider.
RLUSD, which was officially launched in December 2024, currently boasts a market capitalization of approximately $667 million, giving it a 0.24% share of the $280 billion global stablecoin market. The stablecoin has seen steady growth this year and was recently used in the initial public offering (IPO) settlement of crypto exchange Bullish.
This move comes as Japan's stablecoin market gains traction. In March, USDC issuer Circle (a Ripple competitor) also announced plans to launch its stablecoin in Japan through a partnership with SBI VC. Additionally, Japan's Financial Services Agency recently allowed local fintech firm JPYC to issue the first yen-pegged stablecoin.
Ripple and SBI have been partners since 2016 through their joint venture SBI Ripple Asia, which was formed to expand Ripple's services across Asian markets.