Ripple and SBI Accelerate Japan’s Crypto Push
Japan strengthened its position as a leading regulated crypto market after Ripple launched RLUSD through SBI VC Trade and SBI Holdings agreed to acquire exchange Bitbank for nearly $289 million.
Japan’s digital asset sector marked another milestone this week as Ripple introduced its regulated RLUSD stablecoin to the Japanese market, while SBI Holdings moved to acquire cryptocurrency exchange Bitbank in a deal valued at 46.7 billion yen (approximately $288.6 million).
The two announcements, made within a day of each other, underscore growing institutional confidence in Japan’s regulated crypto ecosystem, where financial firms continue expanding their digital asset offerings despite global regulatory uncertainty.
Ripple Brings RLUSD Stablecoin to Japan
Ripple announced on June 24 that its U.S. dollar-backed stablecoin RLUSD is now available in Japan through SBI VC Trade, the cryptocurrency arm of financial conglomerate SBI Holdings. The launch follows approval from the Japan Financial Services Agency (JFSA), allowing RLUSD to be classified as an electronic payment instrument under Japan’s Payment Services Act.
The company said both institutional and retail customers can now access the stablecoin through SBI VC Trade.
“This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers and businesses in Japan,” said Jack McDonald, Senior Vice President of Stablecoins at Ripple.
“Through our collaboration with SBI Group, RLUSD will serve as a bridge for payments, tokenization and collateral management, connecting Japanese businesses and individuals more efficiently to global liquidity.”
Ripple introduced RLUSD in 2024 as a fully reserved stablecoin, backed 1:1 by U.S. dollar deposits, short-term U.S. government bonds, and other cash equivalents. According to CryptoPulse.News’ Crypto Marketcap Tracker, the stablecoin currently has a market capitalization of approximately $1.6 billion.
Stablecoins Gain Momentum in Japan
The RLUSD rollout comes amid accelerating stablecoin adoption across Japan.
Earlier the same day, SBI Group unveiled JPYSC, describing it as Japan’s first trust bank-backed yen stablecoin. Developed in partnership with Singapore-based fintech Startale Group, JPYSC has also been recognized as an electronic payment instrument under the country’s Payment Services Act.
Japan’s banking sector is also preparing broader stablecoin integration. The country’s three largest banking groups—MUFG, SMBC, and Mizuho—previously announced plans to begin live commercial transactions using a jointly issued stablecoin during the fiscal year ending March 2027.
Together, these initiatives reflect Japan’s increasingly structured approach to regulated digital payments, with both domestic and international stablecoins becoming part of the country’s financial infrastructure.
SBI Expands Crypto Business With Bitbank Acquisition
In a separate announcement on June 25, SBI Holdings revealed it had signed agreements to acquire Bitbank, one of Japan’s largest cryptocurrency exchanges.
The acquisition, valued at 46.7 billion yen ($288.6 million), will be executed through SBICAH LLC, a wholly owned SBI subsidiary. Upon completion, Bitbank will become an indirect wholly owned subsidiary, with SBI controlling 100% of its voting rights.
The transaction is expected to close in October, subject to approval from the Japan Fair Trade Commission and the satisfaction of customary closing conditions.
According to SBI, integrating Bitbank with its existing crypto operations will allow the group to combine:
- Customer bases
- Product development capabilities
- Security and compliance infrastructure
- Operational and management resources
The company also plans to expand its digital asset services while developing new financial products linked to stablecoins and other cryptocurrencies.
Combined Business Would Lead Japan’s Crypto Market
SBI estimates that combining SBI VC Trade and Bitbank would significantly strengthen its position in Japan’s cryptocurrency industry.
Based on figures available at the end of April 2026, the merged operations would hold approximately:
- 1.1 trillion yen (around $6.8 billion) in customer crypto assets
- Roughly 2.92 million cryptocurrency accounts
According to SBI, these figures would place the group first among Japan’s domestic cryptocurrency exchanges by assets under management while also ranking it among the industry’s leaders by customer accounts.
Bitbank, founded in 2014, has established itself as one of Japan’s major crypto trading platforms and says it has never experienced a hacking incident since launching operations. SBI had previously disclosed in May that it was in discussions regarding a potential acquisition.
Institutional Investment Continues to Shape Japan’s Crypto Industry
The simultaneous expansion of regulated stablecoin infrastructure and strategic exchange consolidation illustrates how Japan’s digital asset market continues to mature. Rather than focusing solely on retail trading, major financial institutions are increasingly investing in payment networks, tokenization, custody, and regulated financial products.
With Ripple expanding RLUSD and SBI strengthening its exchange business through Bitbank, Japan is reinforcing its position as one of the world’s most established and institutionally driven cryptocurrency markets.
Learn More with CryptoPulse.News
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- What Is Tokenization and How It Transforms Finance
- What Is Blockchain Technology and How It Works
- Beginner’s Guide to Cryptocurrency
