Ripple's RLUSD stablecoin gets regulatory approval to launch in Japan

Japan's Financial Services Agency cleared Ripple's dollar-pegged stablecoin RLUSD as an electronic payment instrument, allowing SBI VC Trade to offer it to institutions and retail customers.

• Japan's FSA approved RLUSD under the Payment Services Act, a category for foreign-issued stablecoins meeting Japanese standards
• SBI VC Trade will offer RLUSD to both institutional and retail customers on its VCTRADE platform
• RLUSD has reached about $1.7 billion in market cap, far behind Tether's $186 billion and Circle's $74 billion
• The approval builds on Ripple's partnership with SBI dating back to 2016 for cross-border payments and blockchain infrastructure

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