TOKYO, JAPAN, August 22, 2025 – Ripple, a leader in enterprise blockchain and crypto solutions, and SBI Holdings, a major Japanese financial services conglomerate and its subsidiary SBI VC Trade Co., Ltd., a provider of crypto asset exchange business (jointly “SBI Group”), today announced a new memorandum of understanding (MOU) for SBI VC Trade, a licensed Electronic Payment Instruments Exchange Service Provider in Japan and subsidiary of SBI, outlining their intention to distribute Ripple USD (RLUSD) in Japan.
Valued at nearly $300 billion today, the stablecoin market is expected to grow into the trillions in the coming years. As stablecoins become a key part of global financial infrastructure, the next wave of adoption will be driven by utility and institutional demand.
RLUSD is a trusted, enterprise-grade stablecoin, built with compliance and transparency in mind. RLUSD is fully backed by high-quality reserves, including U.S. dollar deposits, short-term U.S. government bonds, and other cash equivalents, with monthly attestations from a third-party accounting firm. This commitment to regulatory clarity sets RLUSD apart from other stablecoins and provides the security that institutions require and expect.
“SBI Group has been leading the development of the cryptocurrency and blockchain field in Japan. Our company has been the first to obtain the Electronic Payment Instrument Exchange Service Provider License in Japan, and have started handling stablecoins. The introduction of RLUSD will not just expand the option of stablecoins in the Japanese market, but is a major step forward in the reliability and convenience of stablecoins in the Japanese market, and an important step in further accelerating the convergence of finance and digital technology. We will continue to work with Ripple to build a safe and transparent financial infrastructure,” said SBI VC Trade CEO Tomohiko Kondo.
“Our partnership with SBI has always been about more than just technology; it's about building a trusted and compliant financial future,” said Jack McDonald, Ripple’s Senior Vice President of Stablecoins. “The distribution of RLUSD in Japan with SBI VC Trade is a culmination of that work. RLUSD is designed to be a true industry standard, providing a reliable and efficient bridge between traditional and decentralized finance. We are confident that this partnership will not only drive stablecoin utility in Japan but also set a new benchmark for the entire market.”
SBI VC Trade aims to make RLUSD available in Japan during the first quarter of 2026.
About Ripple
Ripple is the leading provider of digital asset infrastructure for financial institutions—delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple’s solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record working with regulators and policymakers around the world, Ripple’s payments, custody and stablecoin solutions are pioneering the digital asset economy—building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, we are transforming the way the world stores, exchanges, and moves value.
About SBI VC Trade
SBI VC Trade, under the slogan “Cryptocurrency is also SBI,” leverages the comprehensive capabilities of the SBI Group, Japan’s largest internet-based financial services group, to provide a full range of cryptocurrency trading services. As a Crypto Asset Exchange Service Provider, Type 1 Financial Instruments Service Provider, and Electronic Payment Instruments Exchange Service Provider, we operate under a robust security framework. Beyond simply buying and selling crypto assets, we are expanding into crypto asset management services and corporate- focused services, as well as becoming the first in Japan to begin handling the USDC. We are committed to creating innovative services and businesses rooted in a customer-centric principle.