Japan · The Block
The stablecoin's launch in Japan comes after the company received regulatory approval from the Japan Financial Services Agency
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Launched in 2024, RLUSD is backed 1:1 by reserves including U.S. dollar deposits, short-term U.S. government bonds, and other cash equivalents, according to Ripple.
Key facts
- Launched in 2024, RLUSD is backed 1:1 by reserves including U.S. dollar deposits, short-term U.S. government bonds, and other cash equivalents, according to Ripple
- Japan's three megabanks, MUFG, SMBC, and Mizuho, also announced plans to begin live commercial transactions using a jointly issued stablecoin within the fiscal year ending March 2027
- Ripple has launched its Ripple USD (RLUSD) stablecoin in Japan after receiving regulatory approval, as the company continues to expand its global footprint
- The stablecoin's launch in Japan comes after the company received regulatory approval from the Japan Financial Services Agency
Summary
Ripple has launched its Ripple USD (RLUSD) stablecoin in Japan after receiving regulatory approval, as the company continues to expand its global footprint. "Through our collaboration with SBI Group, RLUSD will serve as a bridge for payments, tokenization, and collateral management, connecting Japanese businesses and individuals more efficiently to global liquidity," Jack McDonald, senior vice president of stablecoins at Ripple, said in the statement. The stablecoin's launch in Japan comes after the company received regulatory approval from the Japan Financial Services Agency. Japan's three megabanks, MUFG, SMBC, and Mizuho, also announced plans to begin live commercial transactions using a jointly issued stablecoin within the fiscal year ending March 2027.