SBI VC Trade has become the first company in Japan to obtain a license for electronic payment instrument exchange under the stablecoin law, leading to the launch of Ripple USD and other stablecoins.
New Electronic Payment Instruments Exchange License
SBI VC Trade has gained the first license in Japan for electronic payment instruments, enabling the launch of stablecoin-based payment services in line with the stablecoin law effective since 2023.
Advantages of Ripple USD
Ripple USD (RLUSD) has been developed with principles of reliability and transparency in mind. It is backed by US dollar deposits, short-term US government bonds, and cash-equivalent assets. Monthly verifications are conducted by an independent auditing firm to ensure transparency.
Future of the Stablecoin Market
The stablecoin market, currently valued at $300 billion, is projected to grow to one trillion dollars in the coming years. Key drivers for this growth will be usage and institutional demand, impacting the entire cryptocurrency ecosystem.
The introduction of Ripple USD into the Japanese market marks a significant step in the development of stablecoins in the country and may set new standards for financial reliability and transparency.
