# RippleStablecoinRLUSDApprovedInJapan

On June 25, Ripple and Japanese financial giant SBI Holdings announced that RLUSD has officially received approval from Japan's Financial Services Agency (JFSA) and launched in Japan. The stablecoin is now available to both institutional and retail users through SBI VC Trade's VCTRADE platform. It is the first USD stablecoin to be classified as a "new type of electronic payment instrument" under Japan's Payment Services Act. With a market cap of $1.7 billion since its launch in late 2024, RLUSD's compliant entry into Japan will compete directly with major players like USDT and USDC in the Asian market.