SBI VC Trade, the digital asset division of SBI Holdings, $USDC Lending services were also launched in Japan on Thursday, allowing retail users to lend stablecoins to the platform under fixed-term contracts in exchange for returns.
The company announced Wednesday that users will be able to rent out Circle services. $USDC ($USDC) You can send stablecoins to the platform and receive interest payments. The maximum applicable amount is 5,000. $USDC per offering. This product is structured as a loan to SBI VC Trade rather than a deposit, so users bear the counterparty risk directly. SBI said it may refinance the borrowed funds. $USDC As part of its management.
This launch marks a further step in Japanese stablecoin deployment, making it accessible to consumers. $USDC We bring our products to market through authorized domestic platforms.
SBI said the product is intended as an alternative to traditional US dollar deposits in Japan, but unlike bank deposits, segregated protection does not cover user assets and may not be fully recoverable in the event of bankruptcy. Additionally, users cannot withdraw or transfer funds during the fixed loan period, which limits their ability to react to market conditions.
Translation table comparing the tax treatment of $USDC Loans and foreign currency deposits in Japan. Source: SBI VC Trade
SBI expands stablecoin footprint
The launch follows SBI VC Trade’s initial announcement in November. $USDC It offers loan products and was considering an exchange-traded fund (ETF) product, Reuters reported.
This development comes as SBI expands its stablecoin strategy. SBI VC Trade starts in earnest $USDC It will go on sale in Japan on March 26, 2025, after receiving regulatory approval earlier that month. The circle said approval had been made. $USDC The first global dollar stablecoin approved for use in Japan.
Related: SBI Holdings aims to acquire majority stake in Singapore cryptocurrency exchange Coinhako
On August 22nd, SBI announced the establishment of a joint venture with Circle to promote usage. $USDC It will also be introduced in Japan, creating new use cases for stablecoins in digital finance.
On December 16, the company partnered with Startale to develop a regulated yen-denominated stablecoin for asset tokenization and international payments, scheduled for launch in Q2 2026.
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