Key Takeaways
- Ripple and SBI Holdings, together with SBI VC Trade, have signed a memorandum of understanding to distribute Ripple’s US dollar-backed stablecoin in Japan.
- The stablecoin has grown to a $666 million market cap, according to CoinGecko.
Ripple and SBI Holdings, Japan’s financial conglomerate, are deepening their long-standing partnership with a new memorandum of understanding that paves the way for the distribution of RLUSD, Ripple’s flagship stablecoin, in Japan, according to a Friday announcement.
Under the deal, SBI VC Trade, an SBI subsidiary licensed to operate as an Electronic Payment Instruments Exchange Service Provider, will oversee the rollout of the stablecoin. The company plans to launch RLUSD in Japan in the first quarter of 2026.
RLUSD is fully collateralized by US dollar deposits, short-term Treasuries, and cash equivalents, with reserves confirmed through monthly third-party attestations. The token’s market capitalization currently stands at $666 million, CoinGecko data shows.
Jack McDonald, Ripple’s Senior Vice President of Stablecoins, said the agreement with SBI reflects a long-term effort to build a trusted and compliant financial framework.
SBI Holdings is eyeing the launch of a Bitcoin and XRP dual ETF in Japan, pending regulatory adjustments expected from the Financial Services Agency’s ongoing review.
Source: https://cryptobriefing.com/rlusd-stablecoin-distribution-japan/
