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SBI VC Commerce Launches USDC Lending Service for Japan Customers

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SBI VC Commerce Launches USDC Lending Service for Japan Customers


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

On Wednesday, the corporate stated customers will be capable of lend Circle’s USDC (USDC) stablecoin to the platform and obtain curiosity funds, with a most utility of 5,000 USDC per providing. The product is structured as a mortgage to SBI VC Commerce slightly than a deposit, which means customers take direct counterparty danger. 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 market by way of a licensed home platform.

SBI stated the product is meant as an alternative choice to conventional US greenback deposits in Japan, although, in contrast to financial institution deposits, segregation protections don’t cowl person property and will not be totally recoverable within the occasion of insolvency. Customers are additionally unable to withdraw or switch funds in the course of the fastened lending time period, limiting their skill to answer market circumstances.

Translated desk evaluating tax therapy of USDC lending and overseas foreign money 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, in accordance to 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 world greenback stablecoin to be used in Japan.

Associated: SBI Holdings targets majority stake in Singapore crypto alternate 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 instances for the stablecoin in digital finance. 

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