Overview

• Ripple and SBI Holdings signed a memorandum of understanding naming SBI VC Trade as RLUSD’s distributor in Japan with a target launch in the first quarter of 2026.
• SBI VC Trade holds an Electronic Payment Instruments Exchange Service Provider license required to handle fiat‑pegged stablecoins under Japan’s rules.
• RLUSD is backed by U.S. dollar deposits, short‑term Treasuries and cash equivalents, with reserves verified through independent monthly attestations.
• The stablecoin’s market capitalization is about $666 million, according to CoinGecko, reflecting growing institutional adoption cited by the companies.
• The rollout builds on regulatory acceptance in Dubai and fits within Japan’s Payment Services Act regime that has already allowed USDC through licensed partners.