- SBI has launched Japan’s first trust-backed yen stablecoin lending service through SBI VC Trade.
- The 12-week JPYSC lending product offers a promotional annual yield of 3%, with future rates of 1% to 3%.
- The launch expands JPYSC’s use beyond payments as stablecoin adoption gains momentum across Japan.
Japan’s SBI Group is expanding its stablecoin offerings with the launch of the country’s first trust-backed yen stablecoin lending service. The product allows users to earn interest by lending their JPYSC holdings through the company’s crypto trading platform.
The new JPYSC Lending service will begin accepting applications on July 16 through SBI VC Trade. It will initially offer a 12-week fixed-term product with an annual yield of 3%.
SBI Launches Japan’s First JPYSC Lending Product
The service lets customers lend JPYSC, a trust-backed yen-denominated stablecoin, to SBI VC Trade in exchange for interest. SBI said it is Japan’s first lending product built around a trust-type stablecoin.
To mark the launch, the company is offering a promotional annual yield of 3%. That is higher than the typical 0.325% to 1% annual rates available on standard three-month yen time deposits.
After the promotional period, SBI expects annual yields to range between 1% and 3%, depending on market conditions.
Unlike bank deposits, JPYSC Lending is not covered by Japan’s deposit insurance system. Users also generally cannot terminate their lending contracts before the maturity date.
SBI Expands Stablecoin Use Cases
SBI said the new service is designed to make stablecoins useful not only for payments but also for earning returns on idle assets.
The company launched a USDC lending service in March 2026. It now supports what it says is Japan’s broadest lineup of stablecoins, including USDC, RLUSD, and JPYSC.
SBI also said it remains the country’s only licensed electronic payment methods trading operator that offers both stablecoin distribution and trading services to retail customers.
Because JPYSC is pegged to the Japanese yen, SBI says it avoids the exchange-rate volatility associated with cryptocurrencies and U.S. dollar-backed stablecoins. That could make it more appealing to domestic users looking for stable returns.
Tax Advantages and Simple Participation
SBI also pointed to potential tax benefits for smaller investors. Interest earned from bank time deposits is subject to a flat withholding tax. By contrast, income from JPYSC Lending is classified as miscellaneous income. Under certain conditions, users with 200,000 yen or less in annual miscellaneous income may not be required to file a tax return.
The company added that users only need to lend their JPYSC. No additional actions are required during the lending period.
Stablecoin Adoption Accelerates in Japan
The launch follows SBI’s rollout of JPYSC last month as Japan’s first trust bank-backed yen stablecoin. It is part of the group’s broader strategy to build onchain financial infrastructure.
SBI has also expanded its presence in the crypto sector through investments and acquisitions. These include backing crypto risk management firm Gauntlet, investing in institutional trading platform EDX Markets, and acquiring Japanese crypto exchange Bitbank.
The launch comes as stablecoin adoption continues to grow in Japan. Retail chain Lawson is reportedly testing JPYC stablecoin payments at one of its stores.
Meanwhile, Japan’s three largest banks, MUFG, SMBC, and Mizuho, plan to begin commercial transactions using a jointly issued stablecoin during fiscal 2026.
Related: Japan Prepares Crypto ETF Market Under New Financial Rules
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