SBI VC Trade introduces USDC lending program for Japanese retail investors amid stablecoin expansion
Japanese cryptocurrency exchange SBI VC Trade rolls out fixed-term USDC lending program, enabling retail investors to earn returns on stablecoin deposits.
The digital asset division of SBI Holdings, known as SBI VC Trade, announced on Thursday the introduction of a USDC lending program in Japan, enabling individual investors to provide stablecoins to the exchange through fixed-term contracts in return for interest payments.
According to Wednesday's announcement by the firm, participants will have the opportunity to lend Circle's USDC stablecoin to the exchange platform and collect interest, with each offering capped at a maximum of 5,000 USDC per user application. The offering is configured as a lending arrangement to SBI VC Trade instead of a traditional deposit structure, which means participants assume direct exposure to counterparty risk. The company indicated that it reserves the right to re-lend the USDC it receives as part of its business operations.
This introduction represents another advancement in Japan's broader stablecoin deployment efforts, delivering a yield-generating USDC product accessible to consumers through a regulated local exchange platform.
According to SBI, the offering is positioned as an alternative option to conventional US dollar deposits available in Japan, although, in contrast to bank deposits, user assets are not protected by segregation safeguards and may not be completely recoverable if the company faces insolvency. Additionally, participants cannot withdraw or move their funds throughout the duration of the fixed lending period, which restricts their capacity to react to changing market dynamics.
SBI expands stablecoin footprint
This product launch follows a preliminary announcement made in November, when SBI VC Trade revealed its intentions to introduce a USDC lending offering and indicated it was considering exchange-traded fund (ETF) products, as reported by Reuters.
This move arrives as SBI has been broadening its overall stablecoin initiatives. SBI VC Trade initiated a comprehensive USDC rollout in Japan on March 26, 2025, following regulatory clearance obtained earlier during that month. Circle stated that this regulatory approval positioned USDC as the first globally recognized dollar stablecoin authorized for use within Japan.
On Aug. 22, SBI revealed the formation of a collaborative venture with Circle, with objectives focused on advancing USDC adoption throughout Japan and developing innovative applications for the stablecoin within the digital finance ecosystem.
On Dec. 16, the company entered into a partnership with Startale to build a compliant yen-denominated stablecoin designed for tokenized assets and international settlement operations, with an anticipated launch scheduled for the second quarter of 2026.