Ripple's RLUSD Stablecoin Approved by Japan's FSA, Launches on SBI VCTRADE With $1.7B Market Cap

According to Japan's Financial Services Agency (JFSA) and SBI VC Trade, Ripple's RLUSD stablecoin has been officially approved as an electronic payment instrument under Japan's Payment Services Act and is now live for trading on the VCTRADE platform. The approval, following a memorandum of understanding signed between Ripple and SBI in August 2025, marks a significant regulatory milestone for a foreign-issued stablecoin in Japan.

RLUSD currently holds a market capitalization of approximately $1.7 billion and recorded $116.7 million in 24-hour trading volume upon launch. According to Ripple's senior vice president Jack McDonald, RLUSD is designed as "a bridge for payments, tokenization and collateral management," positioning the stablecoin as enterprise financial infrastructure. While RLUSD trails competitors USDT ($186 billion market cap) and USDC ($74 billion), the JFSA approval establishes regulatory standing that neither competitor currently holds under Japan's framework.