Following approval from Japan's Financial Services Agency, Ripple and SBI officially launched the RLUSD stablecoin in Japan on June 24, making it available to both institutional and retail users via the SBI VC Trade platform. RLUSD was classified under Japan's Payment Services Act as a new type of electronic payment instrument for foreign-issued stablecoins, marking the first time Ripple has registered its dollar-pegged token under this framework. The launch positions Japan as an increasingly active market for regulated stablecoins. The move is expected to intensify competition, as rivals including Circle and Nomura prepare to enter the same space. Japan's clear regulatory structure for payment instruments has attracted issuers seeking compliant pathways to market. The development underscores growing institutional interest in stablecoins as tools for payments and settlement, while signaling the start of a broader contest among major financial players in the region.
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