Ripple and SBI to promote stablecoin RLUSD in Japan

Ripple, a pioneer in enterprise blockchain and cryptocurrency solutions, is a subsidiary of SBI Holdings, a Japanese financial group, and
In collaboration with cryptocurrency trading company SBI VC Trade Co., Ltd., we have signed a memorandum of understanding (MOU) regarding the handling of our stablecoin Ripple USD (RLUSD) in Japan.
Stablecoins are currently valued at approximately $300 billion, and are expected to reach trillions of dollars in value in the future.
Based on demand, it is gradually becoming a core element of the global financial infrastructure. In particular, RLUSD is a trusted, enterprise-grade system designed with regulatory compliance and transparency in mind.
RLUSD is 100% backed by high-quality reserves, including US dollar deposits, US Treasury bills, and other cash assets, and is subject to monthly third-party accounting audits.
Transparency is ensured through corporate audits, putting RLUSD ahead of other stablecoins in terms of regulatory clarity and meeting the security standards required by institutions.
Tomohiko Kondo, CEO of SBI VC Trade, said, "The SBI Group, which leads the development of the cryptocurrency and blockchain industry in Japan, is Japan's first electronic
"We have obtained a payment exchange license and have begun handling stablecoins," he said, adding, "The introduction of RLUSD will expand stablecoin options in the Japanese market and increase its reliability and
"This marks an important milestone in further improving convenience and is a key development in accelerating the integration of finance and digital technology."
"We will continue to work closely with Ripple to build a safe and transparent financial infrastructure," he added.
Jack McDonald, Senior Vice President of Ripple's stablecoin division, said, "The purpose of the partnership between Ripple and SBI is not just to cooperate on technology.
"Our goal is to go beyond the traditional financial services industry and build a reliable, regulated financial infrastructure of the future," he said, adding, "The handling of RLUSD in Japan with SBI VC Trade is the result of this collaboration."
He explained that "RLUSD is designed to become the industry standard for a reliable and efficient means of connecting traditional finance and decentralized finance," and added, "This partnership is a testament to the strength of Japanese state-run blockchain technology."
"This will not only promote the use of cryptocurrencies but also provide a new benchmark for the entire market," he said.
VC Trade is aiming to officially release RLUSD in the first half of next year.