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ETH Japanese lender CRYL launches bitcoin secured loans of up to 1 billion yen
Japanese lender CRYL has now launched bitcoin secured loans with a maximum amount of 1 billion yen (approximately US$6.2 million), allowing individuals and businesses to obtain yen funds without selling bitcoin.
This bitcoin-guaranteed loan service was officially launched on July 9, with loan amounts ranging from 1 million yen to 1 billion yen. The annual interest rate ranges from 3.5% to 7%, and borrowers can choose a loan-to-value ratio of 40% to 60%, in increments of 5 percentage points. Bitcoin is the only eligible collateral.
CRYL provides different contract solutions for individuals, individual industrial and commercial households, home buyers and corporate customers. Loan funds can be used to pay living expenses, pay taxes, business expenses, real estate purchases and other financing needs.
Applications, identity verification and contract signing are all completed online. The approved borrower needs to transfer Bitcoin to the designated address, and then CRYL transfers the loan funds to his bank account, which will be received on the next business day after the collateral is confirmed.
One-year loan and one-time repayment
The standard loan has a one-year term and can be renewed without payment of extension fees. The borrower does not need to repay the principal or interest on a monthly basis, but must repay all the principal and accumulated interest in one lump sum when due.
Credit line contracts allow additional borrowing if the outstanding balance remains within approved limits and the loan-to-value ratio does not exceed 60%. Loans specially arranged for home purchase do not allow additional borrowing.
No sponsor is required, but applicants must go through CRYL\'s vetting process. Individual borrowers must be between the ages of 18 and 70 and have a stable income that meets the requirements of lending institutions. The overdue balance will bear interest at 20% per annum.
Bitcoin price volatility is the primary collateral risk
Bitcoin price volatility remains the primary collateral risk. CRYL uses a three-day average to calculate the value of the collateral based on prices recorded at 9 a.m. on its selected cryptocurrency exchange. If the loan-to-value ratio rises to 70%, the borrower must add additional collateral.
If additional bitcoins are not received before 11:59 pm on the third business day after the threshold is triggered, CRYL has the right to liquidate the pledged bitcoins and use the proceeds to repay outstanding debts.
Japan\'s Bitcoin credit market expands
When CRYL entered the Japanese market, Fintertech was already offering Bitcoin and Ethereum secured loans. The joint venture between Daiwa Securities Group and Credit Saison provides loans of 5 million to 500 million yen with an annual interest rate of 4% to 8%, a one-year term and a loan-to-value ratio of 50%.
This launch also marks a further expansion in the Bitcoin secured credit field. Strike recently launched bitcoin-backed loans that do not rely on price clearing, and Coinbase\'s bitcoin-backed loan book has exceeded $2.17 billion through the Morpho Market on Base.
CRYL was established in December 2025 as a loan institution registered in Tokyo with license number 32065. The company is part of the J-CAM Group, which also operates BitLending crypto lending services.
