SBI Group launches 3% JPYSC lending on July 16

SBI Group will begin accepting applications on July 16 for a new lending product for its yen-denominated stablecoin, offering a yield significantly higher than traditional bank deposits in a move that expands the utility of regulated digital assets in Japan. The service, to be offered through the company's cryptocurrency trading platform SBI VC Trade, will allow customers to lend their JPYSC tokens for a fixed 12-week term at an initial annualized rate of 3%.

At that rate, the gross return over the three-month period would be approximately 0.69% before tax. The company has positioned the yield as a competitive alternative to conventional savings, citing typical yen deposit rates ranging from 0.325% to 1%. The launch transforms JPYSC from a payment instrument into an income-generating product, testing whether yield can attract broader adoption for yen stablecoins beyond basic settlement functions.

The product carries distinct risks, however, as it is not equivalent to a bank deposit. The service is not covered by deposit insurance, generally cannot be canceled early, and the lent tokens fall outside statutory asset-segregation requirements. This means customers could lose some or...