Ripple, SBI launch RLUSD stablecoin in Japan

Ripple has announced the official launch of its stablecoin, RLUSD, in Japan in partnership with SBI Holdings and its subsidiary, SBI VC Trade. RLUSD has been approved by Japan's Financial Services Agency (JFSA) and is classified as an electronic payment instrument for foreign-issued stablecoins under the country's Payment Services Act. Jack McDonald, SVP of Stablecoins at Ripple, said Japan has led the way in digital asset adoption due to its regulatory clarity and financial innovation. He added that RLUSD will serve to connect Japanese and global liquidity in payments, asset tokenization, and collateral management.