SBI is reportedly preparing to launch a lending product offering a 3% annual yield on its JPYSC stablecoin, adding a yield feature weeks after introducing Japan’s first trust bank-backed yen stablecoin.
Summary
- SBI is reportedly preparing a JPYSC lending service with a 3% annual yield and a three month fixed term.
- The product follows the launch of Japan’s first trust bank backed yen stablecoin for payments and institutional settlements.
- Stablecoin activity in Japan is expanding as banks and businesses move ahead with new payment initiatives.
According to a Monday report by Nikkei, the Japanese financial group could introduce the service as early as this month through its crypto exchange, SBI VC Trade. The product is expected to lock users’ JPYSC holdings for three months while paying a fixed annual yield of 3%.
The reported lending service follows the recent launch of JPYSC, a yen-backed stablecoin issued by SBI Shinsei Trust Bank under Japan’s trust bank framework. SBI previously said the stablecoin was built to lower transaction costs, support large block transactions, and serve both retail and corporate users.
SBI adds yield feature to JPYSC
Announced in February by SBI Holdings and Startale Group, JPYSC operates under Japan’s Type III electronic payment instrument framework and is fully backed 1:1 by the Japanese yen. The stablecoin is designed for cross-border payments, treasury management, and tokenised asset settlement, while SBI VC Trade acts as its primary distribution platform.
At launch, SBI said the stablecoin was developed for institutional-grade performance and to connect traditional banking systems with blockchain networks. The companies also said financial institutions and large corporations had expressed interest before the rollout.
The reported lending product adds another service around JPYSC as SBI continues to expand its regulated digital asset business. On July 7, SBI became the sole investor in Gauntlet’s $125 million Series C funding round, invested another $76 million as the sole backer of institutional crypto marketplace EDX Markets, and completed the acquisition of Japanese crypto exchange Bitbank for nearly $289 million.
EDX said the new funding will support trading, clearing, settlement, product development, and international expansion, while SBI described the investment as part of its digital asset strategy.
Elsewhere in Japan, interest in stablecoins has continued to spread across both financial institutions and commercial businesses.
A separate Monday Nikkei report said convenience store operator Lawson has started a trial allowing customers to make payments with the JPYC stablecoin at one of its stores. JPYC is recognised as Japan’s first legally approved yen-backed stablecoin.
Japan’s three largest banking groups, MUFG, SMBC, and Mizuho, also announced last month that they plan to begin live commercial transactions using a jointly issued stablecoin during fiscal year 2026, adding another regulated payment project to the country’s expanding stablecoin sector.
