SBI Holdings’ digital asset subsidiary, SBI VC Trade, will launch a USDC lending product for retail investors in Japan. The service allows users to lend up to 5,000 USD Coin in fixed-term agreements for a return, structured as a loan with counterparty risk. This move expands Japan’s regulated stablecoin ecosystem, though the fixed-term model restricts withdrawal flexibility.
SBI VC Trade will launch its retail USDC lending product in Japan. The service enables customers to lend the stablecoin for fixed-term returns directly to the platform.
Each user investment is capped at 5,000 USDC. The structure is explicitly defined as a loan, not a deposit.
This exposes users to counterparty risk related to SBI VC Trade‘s financial stability. The company stated that it can re-lend the borrowed USDC in its operations.
The product offers an alternative to U.S. dollar deposits but lacks associated protections. It also does not provide segregation for user funds.
The fixed-term model prohibits withdrawals during the lending period. This limits user liquidity and ability to respond to market conditions.
The launch follows a November announcement of the planned product. SBI VC Trade was also considering exchange-traded funds at that time.
SBI VC Trade initially launched USDC in Japan in March 2025 after regulatory approval. Japan approved USDC as its first global dollar stablecoin.
The firm has established key partnerships to build its stablecoin strategy. It announced a joint venture with Circle Internet Financial in August and partnered with Startale in December for a yen-backed stablecoin.
