Ripple’s RLUSD Stablecoin Launches in Japan, Mints $24M in First Week

Ripple has introduced its RLUSD stablecoin in Japan, strengthening its work with SBI Holdings. This addition is part of a global stablecoin market that has already passed $300 billion and continues to grow. In the first week alone, Ripple issued $24 million worth of RLUSD, showing strong initial demand.

Ripple Expands Stablecoin Strategy in Japan

Japan has a reputation for caution and long-term vision in its approach to digital assets. Ripple’s decision to introduce RLUSD in this market builds on its established relationship with SBI Holdings. The collaboration was first announced earlier this month when SBI confirmed support for the stablecoin through its platform.

Tomohiko Kondo, CEO of SBI VC Trade, noted that stablecoins have been absent from Japan’s crypto sector. He described RLUSD as a way to increase trust and transparency in financial markets rather than simply a digital token. His remarks show Japan’s strong attention to compliance and consumer safety.

Ripple said that RLUSD is fully backed by high-quality reserves, including short-term U.S. Treasury securities, cash, and deposits. The stablecoin is checked by independent accountants, and BNY Mellon manages its custody. This setup is meant to avoid the reserve issues that some competitors like Tether have faced.

Such measures may allow Ripple to gain a stronger foothold in Japan, where trust and adherence to regulations remain essential to financial innovation.

RLUSD Sees Strong Minting Activity

Entering Japan is a milestone for Ripple, but the numbers behind RLUSD suggest the stablecoin is starting to gain practical momentum. Over the last week alone, $24 million of RLUSD was issued, and across the past month, that figure rose to $134 million. These sums remain modest next to giants like USDT and USDC, yet they reveal growing interest in Ripple’s approach.

Data from RWA.xyz shows that monthly active addresses using RLUSD increased by 17 percent recently, while transfer volume advanced 19 percent to $3.5 billion. Such metrics often signal adoption spreading beyond early experiments, with both retail and institutional players showing interest in new payment and settlement options.

The regulatory backdrop adds another layer. At the start of the month, the OCC gave community banks approval to cooperate with stablecoin issuers. This move strengthens the link between traditional banking and blockchain finance. Ripple, with its established network of financial partners, stands to gain from this opening.

Even so, the road ahead is not simple. Circle and Tether still dominate stablecoin issuance worldwide. Ripple will need to show that compliance, transparency, and readiness to work with regulators can compete with the liquidity and scale of the incumbents.

Why Japan Matters for Ripple’s Global Strategy?

Ripple’s choice to focus on Japan is intentional. For years, it has worked closely with SBI Holdings on projects in remittances and institutional services. Japan also offers clear rules for stablecoins, making it one of the safest places to test new financial products.

Stablecoins in Japan are regulated under the revised Payment Services Act, which requires strict reserves and reporting. Some issuers may see this as a challenge, but Ripple has embraced it by presenting RLUSD as a compliant, enterprise-ready option. Building in such a strict environment could give Ripple credibility that helps it expand into less defined markets later.

Asia already has a strong demand for stablecoins, especially for remittances and cross-border trade. With its economic influence and strong regulations, Japan acts as a gateway for wider adoption. A strong presence here could help Ripple expand into South Korea, Singapore, and other regional hubs.

Japanese financial institutions often value trust and long-term stability. Ripple’s focus on transparency, third-party audits, and custody with BNY Mellon matches those expectations. This is why the launch is seen less as speculation and more as building real financial infrastructure.

What Comes Next?

The launch of RLUSD by Ripple in Japan represents more than a local experiment. With $24 million minted during its first week and growing activity on the network, early adoption is already visible. The collaboration with SBI Holdings and alignment with Japanese regulations underline Ripple’s focus on compliance and transparency. Japan may serve as a strategic testing ground for the company’s broader international ambitions.