Tokyo-based SBI VC Trade has launched Japan’s first lending service for a yen-denominated stablecoin, offering an initial annualized yield of 3% for a 12-week term. The service, which opened for applications on Thursday, allows customers to lend JPYSC tokens to the SBI Holdings subsidiary and receive them back with accrued interest at maturity.
According to a Monday press release, the gross return over the 12-week period amounts to approximately 0.69% before tax—significantly higher than the 0.325% to 1% annual rates currently offered on ordinary yen bank deposits. However, the company emphasized that the product is not a bank deposit, lacks deposit insurance coverage, and cannot be withdrawn early.
Crucially, lent JPYSC tokens fall outside statutory asset segregation requirements. This means customers could lose part or all of their holdings if SBI VC Trade were to face bankruptcy.
JPYSC lending service features. Source: sbivc.co.jp
The launch provides a new utility for JPYSC just weeks after its debut on June 24 as a trust-structured yen stablecoin. It also follows SBI VC Trade’s earlier March rollout of a similar lending service for Circle’s USDC stablecoin, making this the first opportunity for Japanese users to earn passive yield on domestically denominated stablecoins.
SBI stated that by offering yields “exceeding” those of traditional yen deposits, it expects to attract more holders of yen-backed stablecoins and sees this service as “core” to advancing onchain finance in Japan.
Solana Partnership Widens Onchain Ambitions
In parallel, SBI Holdings announced a strategic partnership with the Switzerland-based Solana Foundation to develop Japan’s onchain financial market. As part of the collaboration, the Solana Foundation will join SBI R3 Japan, which will be rebranded as SBI Solana Global and refocus its strategy around the JPYSC stablecoin.
The initiative aims to position Japan as a leading hub for onchain finance and expand the use of stablecoins and tokenized real-world assets across Asia. Plans include building infrastructure for institutional onchain services, cross-border payments, and payment systems for AI agents.
Government Backing Strengthens Crypto Ecosystem
This development comes amid strong governmental support for Japan’s Web3 and cryptocurrency sectors. Prime Minister Sanae Takaichi reaffirmed the government’s commitment during a video address at the WebX 2026 conference, highlighting plans to boost funding from public-backed venture funds and ease regulatory barriers.
In May 2025, Takaichi unveiled the “Startup Total Power Package,” which builds on the 2022 “Five-Year Startup Development Plan” targeting 10 trillion yen in startup investments by fiscal year 2027. Further bolstering the digital asset landscape, Japan amended its Financial Instruments and Exchange Act in April 2026 to classify crypto assets as formal financial instruments—elevating them from experimental payment tools to regulated investment vehicles akin to stocks.