Japan
RLUSD’s Japan Launch Is Only Part of the Story
What USDC, RLUSD, and JPYSC reveal about Japan’s emerging stablecoin access model, legal routes, platform functions, and the difference between availability and unrestricted circulation.
Independent evidence registry · reviewed through
Understand what a stablecoin is now — and how it got there.
Stable or Gone connects current lifecycle state to issuers, operators, material events, reserve and redemption structures, evidence sources, and the questions that remain unresolved.
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114 canonical recordsBrowse stablecoins
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→Bounded comparisonCompare recordsCompare historical registry fields while keeping unknown and not-recorded values explicit.
→189 eventsFollow changesRead canonical subject changes separately from registry publication history.
→107 organizationsExplore organizationsSee issuers, operators, governance bodies, and their recorded relationships.
→Scoped recordsAccess and regulationReview jurisdiction and platform-function context without flattening access into a universal label.
→Reviewed explanationsRead the methodologyUse guides, glossary, and models to interpret evidence, lifecycle, and unresolved questions.
→Subject history
Latest material events
Dates below describe the recorded subject event, not when SOG published a page.
VCHF remains active after its 2022 launch and multichain expansion
VCHF launched on December 15, 2022 and remains represented across multiple networks with issuer and market access documented separately from the original launch.
USK remains limited during repayment-only wind-down
USK launched in 2022 but is now in an orderly wind-down. First-party Rujira documentation states that new USK debt is disabled while existing positions remain repayable during the Kujira-to-Rujira transition.
SBI VC Trade begins RLUSD handling in Japan
SBI VC Trade began handling RLUSD in Japan as a Type 4 electronic payment instrument, adding a regulated Japanese distribution and access route without changing RLUSD's global launch date or active status.
JPYSC begins restricted account-internal distribution
JPYSC launched through SBI VC Trade as a trust-issued Japanese-yen stablecoin. Initial use was limited to eligible platform accounts, with external-wallet transfer and public-chain circulation unavailable.
Issue watch
Questions the registry has not resolved
These are explicit canonical gaps, not hidden assumptions.
- AllUnity CHFcomplete deployment inventory
Ethereum and Tempo identifiers are verified in the reviewed product page, while the complete current Base and Polygon contract inventory requires separate address verification.
- AllUnity CHFredemption fees limits and settlement
The statutory par-redemption right and institutional mint access are documented, but complete current fees, minimums, limits, settlement guarantees, and channel availability remain unresolved.
- AllUnity CHFreserve report series
Full and segregated reserve backing is stated, but a complete immutable report-level reserve and assurance series has not been normalized.
- AllUnity SEKredemption operations and circulation
The statutory par-redemption right and business mint path are documented, but complete fees, minimums, limits, first-mint chronology, and current circulation remain unresolved.
- AllUnity SEKreserve report series
Full and segregated reserve backing is stated, but a complete immutable report-level reserve and assurance series has not been normalized.
Record maintenance
Recently reviewed stablecoin records
AllUnity CHFCHFAU
- Lifecycle
- Active
- Primary organization
- AllUnity
- Reviewed
- 2026-07-18
AllUnity SEKSEKAU
- Lifecycle
- Active
- Primary organization
- AllUnity
- Reviewed
- 2026-07-18
StraitsX USDXUSD
- Lifecycle
- Active
- Primary organization
- StraitsX Singapore
- Reviewed
- 2026-07-13
USDBUSDB
- Lifecycle
- Active
- Primary organization
- Blast
- Reviewed
- 2026-07-13
AUDDAUDD
- Lifecycle
- Unknown
- Primary organization
- AUDD
- Reviewed
- 2026-07-09
CADCCADC
- Lifecycle
- Active
- Primary organization
- Loon Technology Inc.
- Reviewed
- 2026-07-09
Reviewed explanations
Guides for reading the evidence
European Union / EEA
After MiCA: Which Stablecoins Can Europeans Actually Use?
A reviewed guide to EU/EEA stablecoin access, separating issuer status, platform state, customer scope, product functions, direct mint and redemption routes, payment rails, supported networks, and dates.
Global
Open USD Explained: Who Gets the Reserve Income?
Open Standard says partners will receive all reserve earnings after a small management fee. This guide separates that partner model from holder yield and records what is still unknown before launch.