SBI VC Commerce Launches USDC Lending Service for Japan Customers

SBI Holdings’ digital asset arm, SBI VC Commerce, stated it would launch a USDC lending service in Japan on Thursday, permitting retail customers to lend stablecoins to the platform below fixed-term agreements in change for returns.

On Wednesday, the corporate said customers will have the ability to lend Circle’s USDC (USDC) stablecoin to the platform and obtain curiosity funds, with a most software of 5,000 USDC per providing. The product is structured as a mortgage to SBI VC Commerce somewhat than a deposit, that means customers take direct counterparty threat. SBI stated it might additionally re-lend the borrowed USDC as a part of its operations.

The launch marks an additional step in Japan’s stablecoin rollout, bringing a consumer-accessible USDC yield product to the market by way of a licensed home platform.

SBI stated the product is meant as a substitute for conventional US greenback deposits in Japan, though, not like financial institution deposits, segregation protections don’t cowl consumer belongings and will not be totally recoverable within the occasion of insolvency. Customers are additionally unable to withdraw or switch funds throughout the mounted lending time period, limiting their capacity to reply to market circumstances.

Translated desk evaluating tax therapy of USDC lending and overseas forex deposits in Japan. Supply: SBI VC Commerce

SBI expands stablecoin footprint

The launch follows an preliminary announcement in November, when SBI VC Commerce stated it deliberate to launch a USDC lending product and was exploring exchange-traded fund (ETF) merchandise, accordingly it Reuters.

The event comes as SBI has been increasing its stablecoin technique. SBI VC Commerce started a full-scale USDC launch in Japan on March 26, 2025, after receiving regulatory approval earlier that month. Circle stated the approval made USDC the primary permitted international greenback stablecoin to be used in Japan.

Associated: SBI Holdings targets majority stake in Singapore crypto change Coinhako

On Aug. 22, SBI introduced the institution of a three way partnership with Circle, aiming to advertise using USDC in Japan and create new use circumstances for the stablecoin in digital finance.

On Dec. 16, the corporate partnered with Startale to develop a regulated yen-denominated stablecoin aimed toward tokenized belongings and international settlement, with a deliberate launch within the second quarter of 2026.