SBI VC Trade Launches RLUSD Service… Japan's First Fourth Electronic Payment Method

SBI VC Trade, under SBI Holdings, has begun handling RLUSD, a dollar-based stablecoin, marking Japan's fourth electronic payment method. RLUSD, developed by Ripple, was launched by its subsidiary SCTC in December 2024 with NYDFS approval. It is pegged 1:1 to the US dollar and circulates on Ethereum and XRP Ledger. This move extends SBI Group's collaboration with Ripple, which includes a 2025 agreement to issue and distribute RLUSD in Japan. RLUSD joins USDC as SBI VC Trade's second dollar-based stablecoin, with Ethereum as its sole supported blockchain. The service allows up to 10 million yen (approx. $957,000) per transaction with 24/7 trading. Legal classification in Japan identifies RLUSD as a fourth-category electronic payment method under revised Financial Instruments and Exchange Act regulations. The stablecoin is backed by USD deposits and short-term US Treasury securities, verified monthly by an independent accounting firm.