SBI VC Trade, the digital asset arm of SBI Holdings, is
launching a USDC lending product on March 19, bringing regulated access to
dollar-pegged crypto returns in the domestic market. It allows retail investors
in Japan to earn yields by lending stablecoins through a licensed platform.
To celebrate the rollout, SBI VC said it will offer an
annualized yield of 10% for a 12-week term during the initial phase. The company plans to maintain an annual rate of around 5%
going forward—still well above most U.S. dollar time deposit rates, which
typically range between 0.01% and 4%.
High Initial Yield to Mark Launch
Under the new program, users can lend Circle’s USD Coin
(USDC) directly to the platform, with each offering capped at 5,000 USDC.
Interest earnings will be treated as miscellaneous income for tax purposes,
allowing small-scale participants to remain tax-exempt if their total annual
miscellaneous income stays under ¥200,000.
SBI clarified that the service constitutes a loan, not a
deposit, meaning participants face direct counterparty risk rather than
enjoying bank-style asset segregation.
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The company also reserves the right to re-lend the borrowed
USDC as part of its regular operations. Funds cannot be withdrawn during the
fixed 12-week term, limiting quick access in response to market changes.
SBI VC Trade’s move highlights the rapid evolution of
Japan’s regulatory stance on stablecoins. The company began handling USDC in
March 2025 after becoming the only licensed platform in the country authorized
to distribute and trade stablecoins to the public.
A Milestone in Japan’s Stablecoin Evolution
In partnership with Circle, SBI has been advancing local
stablecoin infrastructure. Their joint venture, established in August 2025,
aims to promote USDC adoption and explore its use in digital finance.
SBI VC Trade’s new USDC lending product comes as SBI
Holdings accelerates its push into regulated digital assets and tokenized
markets. The launch adds a yield-bearing stablecoin service on top of SBI’s
existing USDC spot support and comes through a licensed domestic platform that
targets retail demand for dollar-linked returns.
In parallel, SBI and Startale have begun building out“Strium,” a blockchain infrastructure for trading tokenized securities and
real-world assets in Asia. That project, along with their digital yen
stablecoin initiative, shows SBI trying to stitch together stablecoins,
tokenized assets and 24/7 settlement into a single architecture that can serve
both retail and institutional clients.
SBI has also moved on the international front with an investment in U.S. prime broker Clear Street and plans for a joint
venture in Japan. That deal aims to connect SBI’s domestic securities and
derivatives flow with modern prime brokerage infrastructure in the U.S., giving
the group more flexibility around cross-border trading and financing.
This article was written by Jared Kirui at www.financemagnates.com.
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