Ripple has introduced RLUSD as Japan's first licensed stablecoin, signifying a major step in regulating digital assets.
First Licensed Stablecoin in Japan
SBI VC Trade became the first company in Japan to receive an Electronic Payment Instruments Exchange Service Provider License in 2023. Two years later, the firm began using this license to distribute RLUSD alongside other stablecoins.
Achievements and Features of RLUSD
RLUSD has been developed with institutional-grade standards in mind. Each token is backed by U.S. dollar deposits, short-term U.S. Treasuries, and cash-like assets. Transparency is reinforced through monthly audits conducted by independent firms. Tomohiko Kondo, CEO of SBI VC Trade, stated: "The rollout of RLUSD will represent a milestone for Japan's digital asset industry, expanding options for users and ensuring reliability."
Future of Stablecoins in the Global Economy
Jack McDonald, Ripple's Senior Vice President of Stablecoins, emphasized that the initiative aims to build a reliable bridge between traditional and decentralized finance. He noted that RLUSD is designed to set a new benchmark for stablecoins, not only in Japan but across global markets.
The launch of RLUSD in Japan opens new possibilities for stablecoins and highlights the importance of regulation in the digital financial ecosystem.
