Ripple's RLUSD Stablecoin Goes Live in Japan After Regulatory Approval

[Pete14]

Japan's financial regulator cleared Ripple's RLUSD US dollar-backed stablecoin as a new category of payment instrument letting SBI VC Trade offer it to institutions and retail customers. RLUSD currently sits at about 1.7 billion dollars in market cap which is small compared to USDC and USDT but Japan's regulatory approval is meaningful. Japan has been more thoughtful than most jurisdictions about crypto regulation creating clear frameworks rather than reactive bans. RLUSD being approved as a payment instrument rather than just a financial instrument gives it a different legal status. The stablecoin market is where the real payment utility of crypto lives and Ripple getting regulated approval in a major economy is a significant step.

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