Ripple RLUSD Joins SBI VC Trade in Japan; XRP Price Slumps
Ripple Labs has signed an MoU with SBI Holdings to distribute its new stablecoin RLUSD in Japan via SBI VC Trade from Q1 2026. SBI VC Trade holds key Japanese financial licences, positioning RLUSD as a regulated, enterprise-ready stablecoin. RLUSD has a circulating supply of $666 million, representing 0.24% of the $280 billion stablecoin market. The partnership aims to expand stablecoin market share and offer Japanese users and institutions a trusted crypto payment option.
Ripple also provided a $75 million secured credit line to Gemini, expandable to $150 million, with future drawdowns in RLUSD, potentially setting a precedent for stablecoin-denominated financing. Meanwhile, MetaMask unveiled its own stablecoin, mUSD, intensifying competition in the stablecoin space.
Despite these developments, XRP fell 3.6% to a three-week low of $2.83, marking a 22% drop from its July all-time high. The broader crypto market is down 8.5% since mid-August, highlighting divergent trends between stablecoin adoption and XRP’s short-term volatility.
Neutral
The MoU between Ripple and SBI to introduce RLUSD in Japan is a bullish signal for stablecoin adoption and enterprise use, aligning with past partnerships that boosted market confidence. The expansion of RLUSD supply into a regulated Japanese market suggests long-term growth prospects for Ripple’s stablecoin network. However, the simultaneous 3.6% drop in XRP highlights ongoing volatility in cross-border tokens. Historically, major partnerships have supported price rallies, but short-term market sentiment often reacts sharply to broader crypto downturns. Therefore, in the short term, XRP price may remain under pressure, while the RLUSD rollout could foster stability and gradual bullish momentum for Ripple’s ecosystem in the longer term.