Japan's SBI VC Trade Launches Retail USDC Lending Service
USDC is a stablecoin issued by Circle, backed by dollar-denominated assets and designed to maintain a one-to-one peg with the U.S. dollar. SBI Holdings subsidiary SBI VC Trade began offering USDC trading to retail customers in Japan on March 26, 2025. The latest move expands its use beyond payments and trading into a yield-generating asset, although the lending product is not a bank deposit and is not covered by deposit insurance.
SBI VC Trade announced on March 18, 2026, that it would launch Japan's first USDC lending service offered by a licensed provider on March 19. The initial round carries a fixed 12-week term and a 10% annualized rate, while regular offerings are expected to yield about 5% annually. Each account may apply only once per round, with a cap of 5,000 USDC and, in principle, no more than the equivalent of 1 million yen. Returns are calculated according to the amount lent, the annual rate and the number of days.
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The history behind this eventJapan’s SBI to Launch Yen Stablecoin Lending Service
As cryptocurrencies become more closely integrated with the real economy, fiat-backed stablecoins have emerged as a critical bridge between the two markets. Japanese financial giant SBI Group has been expanding into Web3, and its launch of a yen stablecoin lending service marks a significant step by traditional finance into digital assets. It also opens a new investment channel for investors seeking stable returns amid the crypto market’s sharp volatility.
Japanese cryptocurrency exchange SBI VC Trade said it would begin accepting lending applications for the yen stablecoin JPYSC on July 16, offering a 12-week term with a 3% annualized yield. The product, however, is not covered by deposit insurance or subject to statutory asset-segregation requirements. Investors must therefore bear credit risks including the possibility of the platform’s insolvency.
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