Japan’s Financial Services Agency approves RLUSD as a payment instrument, enabling SBI VC Trade to offer it to retail and institutional users.
Ripple’s dollar-backed stablecoin RLUSD has launched in Japan following regulatory approval by the Financial Services Agency. The token, valued at approximately $1.7 billion, is classified as an electronic payment instrument under Japan’s Payment Services Act, allowing its use in one of Asia’s most tightly regulated crypto markets.
RLUSD will be available to both retail and institutional customers through SBI VC Trade’s VCTRADE platform, expanding Ripple’s partnership with SBI. Despite the approval, RLUSD remains significantly smaller than leading stablecoins like USDT and USDC, posing challenges in gaining market share.
The move marks a step toward broader adoption of regulated stablecoins in Japan, though RLUSD must build liquidity and trading volume to compete effectively.