Ripple's RLUSD stablecoin goes live in Japan after regulatory approval

The RLUSD stablecoin, developed by Ripple, has officially launched in Japan following regulatory approval, marking a significant milestone for the cryptocurrency sector in the country. This new U.S. dollar-backed token is classified as a novel payment instrument, allowing SBI VC Trade to offer it to both institutional and retail investors. Although RLUSD is currently a modest player with a market cap of around $1.7 billion, its introduction could pave the way for more cryptocurrency adoption and innovation in Japan's financial landscape, reflecting a broader trend of regulatory acceptance for digital assets.