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FollowingSBI Group is about to launch a stablecoin lending product with an annualized return of 3%
SBI Group, one of Japan's largest financial groups, is preparing to launch a stablecoin lending product. Savers holding the yen-denominated stablecoin JPYSC issued last month will receive an annualized return of 3%. Applications for the product will be open on July 16.
This product has a fixed 12-week term and will be provided through SBI VC Trade, the group's crypto trading platform. SBI issued an announcement on July 13, introducing the initial yield and term structure in a press release.
SBI accelerates the deployment of on-chain finance
JPYSC is Japan's first yen stablecoin backed by trust banks, launched less than a month before the announcement of lending services. SBI said at the time of its launch that the token is expected to attract retail and corporate users by reducing transaction costs and supporting bulk transactions.
The launch of lending products is part of a broader strategy that SBI has been actively implementing in recent weeks. The group served as the exclusive investor in risk management firm Gauntlet's $125 million Series C financing and fully subscribed for a $76 million Series C financing from institutional crypto platform EDX Markets. Both transactions were completed last week.
In June this year, SBI agreed to acquire Japanese crypto exchange Bitbank for approximately US$289 million. An SBI spokesperson said that from these acquisitions to investment partnerships, all initiatives serve a group-level goal-providing a full range of on-chain functions covering exchanges, asset tokenization and market infrastructure.
Japan's stablecoin territory continues to expand
SBI's move into the lending space comes at a time when stablecoin activity in Japan's financial industry is also becoming increasingly active. According to Nikkei Shimbun reported on July 13, Rosen, Japan's third-largest convenience store chain, has begun piloting JPYC stablecoin payments in one of its stores. JPYC is Japan's first legally recognized yen-backed stablecoin.
Japan's three major banks-Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group-announced last month that they planned to use jointly issued stablecoins for commercial transactions in fiscal year 2026. These developments in the retail, banking and investment sectors suggest that Japan's stablecoin infrastructure is expanding in multiple directions simultaneously.
