Japan green-lights Ripple's RLUSD as SBI VC Trade hits 2 million users

Japan has permitted broad use of Ripple's RLUSD stablecoin across its financial system, according to crypto analyst Jesse, who appeared on an XRP-focused podcast on July 9. The move, if confirmed, would mark one of the first major regulatory approvals for a foreign-issued stablecoin in Asia.

"They basically green-lit RLUSD as a do-it-everywhere," Jesse said on the podcast. Neither Ripple nor Japanese regulators have publicly confirmed the specifics of the claim, and it should be treated as commentary rather than confirmed policy.

The development comes as SBI VC Trade, the digital asset arm of Japanese financial giant SBI Holdings, surpassed 2 million registered accounts as of June 6, adding 69,000 users since March. The exchange recently brought RLUSD to Japan through a partnership with Ripple, following its integration of USDC in March 2025 and the launch of JPYSC, the first yen-denominated stablecoin. SBI VC Trade also plans to launch stablecoin lending services, allowing customers to lend their tokens to the platform for rewards.

The timing matters because the US has yet to pass the CLARITY Act, the crypto market structure bill still pending in the Senate. "These next two weeks will decide how the US is going to go forward," Jesse said.

SBI's Stablecoin Push Gains Traction

SBI VC Trade has been building out its stablecoin infrastructure as part of a broader strategy to become Japan's leading crypto exchange. The platform integrated USDC in March 2025, launched JPYSC — the first yen-denominated stablecoin — and now plans to offer stablecoin lending services.

The push aligns with growing corporate demand. Companies are using Bitcoin and XRP for shareholder dividend and reward payments as the yen weakens to near 40-year lows against the dollar, according to SBI VC Trade. The exchange claims it is the leader in staking service provision, with the highest number of coins available for staking. It also plans to integrate two service brands by December.

US Regulatory Gridlock Creates Opening

Jesse argued the regulatory momentum in Japan contrasts with political gridlock in Washington. The CLARITY Act has faced continued opposition from lawmakers including Senator Elizabeth Warren. Jesse floated a theory linking the bill's fate to unrelated housing legislation, though he acknowledged this was speculation.

He compared the current moment to earlier technology inflection points. "These are the same signs that I saw then, I see now," he said, pointing to the early internet era and the 2007 iPhone launch as parallels.

If confirmed, Japan's stance on RLUSD would position the country as an emerging hub for crypto infrastructure, potentially attracting capital and talent from jurisdictions with less clear regulatory frameworks. Jesse suggested the development could put Japan ahead of the US in crypto adoption, much like Wall Street and Silicon Valley positioned the US during earlier technology booms.

This article is for informational purposes only and does not constitute investment advice.