Ripple Secures Approval for Stablecoin Launch in Japan

Ripple has secured approval from Japan's Financial Services Agency (JFSA) to launch its stablecoin, RLUSD, in the country.

The company partnered with SBI Group and received a license for foreign-issued stablecoins under the Payment Services Act.

RLUSD will be available through SBI VC Trade's VCTRADE platform, providing access to institutional and retail users.

Ripple's Senior Vice President of Stablecoins, Jack McDonald, praised Japan's regulatory environment, calling it a leader in cryptocurrency adoption.

RLUSD has seen significant growth since its launch in 2024, reaching a market cap of $1.6 billion on CoinGecko.