SBI Unveils Yen-Based Stablecoin Lending Program Featuring 3% Annual Returns
Beginning July 16, SBI VC Trade will accept JPYSC lending requests, providing a 3% yearly return for a three-month period, though the program lacks deposit insurance coverage.
The Tokyo-headquartered SBI VC Trade is set to commence accepting requests on Thursday for a lending service denominated in Japanese yen stablecoins, providing an initial 3% annualized yield on JPYSC committed for a three-month period.
Under the program, participants will provide JPYSC to the SBI Holdings affiliate starting Thursday and will have their tokens returned along with an accrued lending fee upon the term's completion, as outlined in a company announcement released on Monday. Based on the promoted rate, investors would realize a gross yield of approximately 0.69% across the 12-week duration, calculated before taxation.
According to the firm, the offering delivers superior returns compared to the 0.325% to 1% annual interest rate that SBI referenced for standard yen deposit accounts. However, the product does not constitute a traditional bank deposit, lacks coverage under deposit insurance programs, and typically cannot be terminated before the scheduled maturity date.
JPYSC tokens provided to SBI VC Trade will additionally exist outside of mandatory asset segregation rules, which means participants could potentially lose a portion or the entirety of their tokens should the company face bankruptcy proceedings, the announcement noted.
This service introduction provides JPYSC with an additional utility mere weeks following SBI's debut of the trust-based yen stablecoin on June 24, as regulated stablecoins in Japan transition from purely payment-focused tools to yield-generating financial products. SBI VC Trade had previously rolled out stablecoin lending offerings in Japan during March for Circle's USDC (USDC) stablecoin, which is denominated in US dollars.
According to SBI's statement, this represents the inaugural service enabling Japanese users to lend their Japanese yen-pegged stablecoins in return for earning passive income.
Through the provision of yields that "exceed" conventional annual rates for yen deposits, SBI projects growth in the population of yen-denominated stablecoin participants and characterized the service as "core" to achieving the vision of onchain finance in the future.
Solana partnership widens onchain ambitions
In a parallel effort, SBI is constructing the foundational infrastructure that the company envisions will ultimately extend JPYSC's reach beyond its proprietary platform and into a wider marketplace for tokenized assets and international settlement operations.
On Monday, SBI Holdings revealed a strategic collaboration with the Solana Foundation, based in Switzerland, with the objective of establishing a Japanese onchain financial ecosystem.
Under the terms of this partnership, the Solana Foundation will become part of SBI R3 Japan, an entity that will undergo rebranding to become SBI Solana Global and will introduce a fresh growth roadmap centered on the yen-collateralized stablecoin.
This endeavor seeks to establish Japan as a premier destination for onchain finance, simultaneously broadening the adoption of stablecoins and tokenized real-world assets throughout the Asian region. The initiative additionally encompasses developing enhanced infrastructure supporting institutional onchain financial operations, international payment systems, and payment frameworks designed for AI agents.
Japanese PM reaffirms support for crypto and Web3 startups: report
The debut of the stablecoin lending offering arrives on the heels of encouraging regulatory developments for Japanese Web3 ventures and cryptocurrency enterprises.
Japan's government is planning to bolster its support framework for crypto and Web3 startups, as Japanese Prime Minister Sanae Takaichi allegedly stated during a video presentation at the WebX 2026 conference.
Among the pledged initiatives are enhanced financing opportunities from government-supported funds and the relaxation of regulatory constraints.
During May 2025, Takaichi unveiled the "Startup Total Power Package," which delineated policies connected to expanded governmental capital allocation aimed at accelerating startup growth. This package expands upon the "Five-Year Startup Development Plan" created in 2022, which establishes a target of boosting startup investments to 10 trillion yen by fiscal year 2027.
In April 2026, Japanese authorities revised the Financial Instruments and Exchange Act to reclassify crypto assets as financial instruments, transitioning digital assets away from the experimental payments classification into the equivalent category as the nation's equity markets.