Japan's SBI Group to launch JPYSC stablecoin lending service this month
Japanese financial conglomerate SBI Group is set to launch a lending service that offers a 3% annual yield on users' JPYSC stablecoins.
SBI announced Monday that it will open applications for the service on July 16, offering a 12-week fixed-term product through SBI VC Trade, the group's crypto trading platform. The product will initially offer a 3% annual yield, according to the press release.
The initiative comes less than a month after SBI launched JPYSC, the country's first trust bank-backed yen stablecoin. SBI said at the time that it expects JPYSC to attract retail and corporate users through lower transaction costs and support for block trades.
JPYSC is a key component of SBI Group's broader strategy to expand into onchain finance, backed by a series of recent crypto-related investments.
Last week, SBI became the sole investor in Gauntlet's $125 million Series C funding round. Institutional crypto platform EDX Markets also closed a $76 million Series C financing last week, with SBI as the sole investor. In June, it acquired Japanese crypto exchange Bitbank for nearly $289 million.
"In the onchain space, our goal is to provide a comprehensive range of functions — from exchanges to asset tokenization to market platforms. Our recent acquisitions, investments, and partnerships are all part of this group-wide strategy," an SBI spokesperson told The Block.
Stablecoin momentum
Meanwhile, stablecoins have emerged as a major focus for both traditional financial institutions and crypto-native firms in Japan.
Lawson, the country's third-largest convenience store chain, is launching a trial to test JPYC stablecoin payments at one of its stores, according to a separate Nikkei report on Monday. JPYC is Japan's first legally recognized yen-backed stablecoin.
Japan's three megabanks — MUFG, SMBC, and Mizuho — also announced plans last month to begin live commercial transactions of a jointly issued stablecoin during fiscal year 2026.
The article has been updated to include a statement from SBI.
