RLUSD approved in Japan as first Type 4 electronic token

Japan’s Financial Services Agency approved Ripple’s USD-backed stablecoin RLUSD as the country’s first Type 4 electronic payment instrument, and the token moved to full approved availability on June 25, 2026. SBI VC Trade will distribute RLUSD to retail and institutional customers through its VCTRADE platform. An initial limited distribution began March 31, 2026.

The Type 4 classification is a category under Japan’s Payment Services Act created for foreign-issued fiat-backed stablecoins that meet the country’s safety and compliance standards. On VCTRADE, RLUSD deposits and withdrawals are free. The platform enforces a per-transaction cap of about one million yen, roughly $6,200.

The Japan listing is limited to the Ethereum network and is not available on the XRP Ledger in Japan. Globally, RLUSD circulation is close to parity between Ethereum and the XRP Ledger, with roughly $793 million on Ethereum and about $792 million on XRPL.

RLUSD is issued by a trust company chartered by the New York State Department of Financial Services and is backed 1:1 by reserves that include cash and U.S. Treasuries. New York issuance oversight combined with JFSA approval for distribution creates a compliance framework spanning both jurisdictions.

Ripple and SBI Group first outlined the Japan rollout in August 2025 under a memorandum of understanding. SBI VC Trade added RLUSD as a second USD stablecoin on its platform alongside USDC. Tomohiko Kondo, chief executive of SBI VC Trade, described the launch as ‘a major milestone in the long partnership between Ripple and SBI Group’ and noted plans to expand services and develop new use cases around RLUSD.

On the same day VCTRADE listed RLUSD with a transaction cap, SBI launched a domestic yen stablecoin, JPYSC, on the same platform without a per-transaction limit for institutional and enterprise settlement.

Earlier in June 2026, Ripple made RLUSD available to institutions in Türkiye through local partners and has moved the token across more than 40 blockchain networks using interoperability tools.

A survey of 518 Japanese investment professionals found 63% see practical uses for stablecoins but tend to trust bank-issued coins most. Japan’s largest banks are targeting a consortium-backed yen stablecoin by March 2027.