Ripple and SBI launched RLUSD in Japan after regulatory approval, giving institutions and retail users access through SBI’s crypto exchange platform. The U.S. dollar-backed stablecoin has reached a $1.7 billion market capitalization. Ripple and SBI Holdings, a major Japanese financial services conglomerate, announced on June 24 the launch of Ripple USD (RLUSD) in Japan after approval from the Japan Financial Services Agency (FSA). The rollout gives institutions and retail users access to the U.S. dollar-backed stablecoin through SBI’s VCTRADE crypto exchange platform.