SBI VC Trade has launched a retail USDC lending service in Japan, allowing users to lend stablecoins to the platform in exchange for fixed-term returns.
The product enables customers to lend Circle’s USDC with a maximum of 5,000 USDC per offering, marking a further step in Japan’s stablecoin adoption.
The service is structured as a loan rather than a deposit, meaning users take on counterparty risk, with SBI potentially re-lending the funds as part of its operations.
The offering provides an alternative to traditional US dollar deposits, though it lacks the same protections, including asset segregation and guaranteed recovery in the event of insolvency.
Users are also restricted from withdrawing or transferring funds during the fixed lending period, limiting flexibility in changing market conditions.
The launch builds on SBI’s broader push into stablecoins, following regulatory approval that allowed USDC to become the first global dollar-pegged stablecoin authorised in Japan.
SBI has also partnered with Circle through a joint venture to expand USDC use cases and support digital finance infrastructure in the country.
In addition, the company is developing a yen-denominated stablecoin with Startale, targeting tokenised assets and global settlement use cases.
The move reflects growing interest in stablecoin-based financial products as regulated platforms expand offerings for retail investors in Japan.