TLDR
SBI Holdings will integrate RLUSD stablecoin on its platform by fiscal year-end.
Ripple’s XRP-linked ETFs are set to launch on the Tokyo Stock Exchange.
More than 100 financial institutions in 55 countries use Ripple’s payment solutions.
SBI’s Ripple partnership aims for broader crypto asset adoption and regulatory approvals.
In its latest report, Japan’s SBI Holdings shared plans to expand its Ripple-based payment services, further integrating XRP and stablecoins like RLUSD. The company is set to expand Ripple’s payment technology through its joint venture, SBI Ripple Asia.
More than 100 financial institutions across 55 countries are already using Ripple’s payment systems. The company aims to enhance its international payments network by bringing Ripple’s solutions to more financial institutions and businesses globally.
Ripple’s technology enables fast, low-cost cross-border payments using XRP. Since 2021, the collaboration has helped launch Japan’s first international money transfer service powered by XRP. SBI Holdings is working to expand Ripple’s reach, facilitating its integration into different financial markets and sectors. This growing adoption points to the strengthening of Ripple’s position in the global payments market.
RLUSD Stablecoin Integration on SBI VC Trade
SBI Holdings has also revealed its plans to integrate Ripple’s USD-backed stablecoin, RLUSD, on its platform, SBI VC Trade, within the current fiscal year. This stablecoin plays a crucial role in Ripple’s wider strategy to drive stablecoin adoption and expand digital asset offerings.
RLUSD will be utilized for international remittances, as well as serving as collateral in institutional trading via Ripple’s acquisition of Hidden Road, a prime broker.
RLUSD is issued under a trust license from the New York Department of Financial Services (NYDFS) and has already been used for remittances through Ripple’s network. SBI Holdings plans to leverage RLUSD’s functionality, facilitating its exchange on SBI VC Trade. This move is expected to help solidify stablecoin’s role in the future of digital assets, connecting SBI’s banking and securities businesses with new, innovative payment solutions.
XRP-Linked ETFs and Tokyo Stock Exchange Listings
SBI Holdings is also pushing for the launch of XRP-linked crypto exchange-traded funds (ETFs) in Japan. These ETFs could offer exposure to digital assets like Bitcoin and XRP, both of which have been increasingly recognized in financial markets.
The company plans to list these ETFs on the Tokyo Stock Exchange, offering both institutional and retail investors access to regulated crypto investment products.
Among the ETF proposals are two models. One is a hybrid ETF, which will allocate over 51% to gold and the remaining portion to cryptocurrencies like Bitcoin and XRP. Another proposal focuses solely on cryptocurrencies, including Bitcoin and XRP. If approved, these ETFs would be among the first regulated crypto products to include XRP on the Tokyo Stock Exchange, potentially driving further institutional adoption of Ripple’s technology.
Ripple’s Expanding Global Footprint and Future IPO Prospects
SBI Holdings, which owns a 9% stake in Ripple, has also noted the potential for a future IPO or equivalent event, which could significantly impact Ripple’s valuation. The growing partnership between SBI and Ripple continues to strengthen the position of both companies in the digital asset space.
The strategic initiatives outlined in the report also aim to broaden the use of XRP for cross-border payments and stablecoin adoption, paving the way for Ripple’s greater acceptance in traditional financial markets.
Furthermore, the regulatory climate in Japan is evolving. The Japanese Financial Services Agency (FSA) is reviewing changes to its crypto regulatory framework. These regulatory developments could accelerate the launch of new crypto products and investments, including SBI’s proposed ETFs and the wider adoption of stablecoins like RLUSD.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
