SBI VC Trade, the digital asset arm of SBI Holdings, is launching a USDC lending product that provides regulated access to returns on dollar-pegged crypto assets in Japan.

The service allows retail investors to lend stablecoins through a licensed domestic platform.

To mark the rollout, the company will offer an annualised yield of 10% for a 12-week term during the initial phase, according to Finance Magnates.

SBI VC Trade said it plans to maintain a rate of around 5% annually thereafter, which remains above most US dollar time deposit rates that typically range between 0.01% and 4%.

Under the programme, users can lend USD Coin (USDC), issued by Circle, directly to the platform. The platform caps each offering at 5,000 USDC.

It treats interest earned as miscellaneous income for tax purposes. Smaller participants may remain tax-exempt if their total annual miscellaneous income stays below ¥200,000 (US$1,300).

SBI structures the service as a loan rather than a deposit. Participants take on direct counterparty risk. They do not receive bank-style asset segregation.

The company may re-lend the borrowed USDC as part of its operations. It does not allow withdrawals during the fixed 12-week term.

The launch reflects changes in Japan’s regulatory approach to stablecoins.

SBI VC Trade began handling USDC in March 2025 after becoming the only licensed platform in the country authorised to distribute and trade stablecoins to the public.

In partnership with Circle, SBI has also been developing local stablecoin infrastructure.

Their joint venture, established in August 2025, focuses on promoting USDC adoption and exploring its use in digital finance.

The new USDC lending product adds a yield-generating stablecoin service alongside SBI’s existing USDC spot offering. The group is expanding its activities in regulated digital assets and tokenised markets.

Featured image credit: Edited by Fintech News Hong Kong, based on image by jannoon028 via Freepik