Ripple's stablecoin, RLUSD, has been approved and launched in Japan. The move is seen as part of a larger competition in the stablecoin market, with other companies, including Circle and Nomura, also entering the Japanese market with their own stablecoin, USDC. However, there are differing reports on the success and potential impact of RLUSD in Japan, with some outlets suggesting it may face challenges in gaining traction.