Overview

• Ripple and SBI Holdings signed a memorandum of understanding that designates SBI VC Trade as the distributor of Ripple USD in Japan, targeting a first‑quarter 2026 launch.
• The planned rollout remains contingent on final operational, compliance and regulatory steps under Japan’s Payment Services Act framework.
• RLUSD’s reserves comprise U.S. dollar deposits, short‑term Treasuries and cash equivalents, with monthly attestations by an independent third party.
• SBI VC Trade is licensed as an Electronic Payment Instruments Exchange Service Provider and already handles foreign stablecoins, including USDC.
• RLUSD’s market capitalization is reported at about $666 million, and the Japan effort follows DFSA approval for use in Dubai’s DIFC.