SBI Group Launches Stablecoin Lending Service Amid Growing Interest in Japan

Japanese financial conglomerate SBI Group is expanding its onchain finance strategy by launching a lending service for its JPYSC stablecoin. The new service, available through SBI VC Trade, will offer users a 3% annual yield on their JPYSC holdings.

The initiative follows the recent launch of JPYSC, Japan's first trust bank-backed yen stablecoin. SBI expects JPYSC to attract both retail and corporate users due to lower transaction costs and support for block trades.

SBI Group has been actively investing in various crypto-related ventures, including a $125 million Series C funding round for Gauntlet and the acquisition of Japanese crypto exchange Bitbank for nearly $289 million. The group's goal is to provide a comprehensive range of onchain functions, from exchanges to asset tokenization.

Stablecoins have gained momentum in Japan, with several institutions exploring their potential use cases. Lawson, the country's third-largest convenience store chain, is set to test JPYC stablecoin payments at one of its stores. Japan's three megabanks, MUFG, SMBC, and Mizuho, also announced plans to begin live commercial transactions of a jointly issued stablecoin during fiscal year 2026.