SBI Holdings’ digital assets arm, SBI VC Trade, said it will launch a USDC lending service in Japan on Thursday, allowing retail users to borrow stablecoins on the platform on fixed-term contracts in exchange for repayment.

On Wednesday, the company he said users will be able to lend the USDC (USDC) Circle stablecoin on the platform and receive interest, with a maximum amount of USDC 5,000 per offer. The product is in the form of a loan to SBI VC Trade rather than a deposit, which means users assume direct counterparty risk. SBI said it can also re-lend borrowed USDC as part of its operations.

The launch marks the next step in stablecoin adoption in Japan, bringing a USDC-yielding product to the market available to consumers via a licensed domestic platform.

SBI says the product is intended to provide an alternative to time-honored US dollar deposits in Japan, but unlike bank deposits, segregated collateral does not extend to users’ assets and may not be fully recoverable in the event of default. Users are also unable to withdraw or transfer funds within the fixed loan period, limiting their ability to respond to market conditions.

SBI expands stablecoin reach

The launch follows an initial announcement in November when SBI VC Trade said it plans to launch a USDC lending product and is exploring ETF products, According to to Reuters.

This development comes at a time when SBI is expanding its stablecoin strategy. SBI VC Trade began full-scale USDC rollout in Japan on March 26, 2025, after receiving regulatory approval earlier this month. Circle said the approval made USDC the first global dollar stablecoin approved for exploit in Japan.

Related: SBI Holdings is targeting a majority stake in Singapore’s cryptocurrency exchange Coinhako

On August 22, SBI announced a joint venture with Circle to promote the exploit of USDC in Japan and create fresh exploit cases for the stablecoin in digital finance.

On December 16, the company partnered with Startale to develop a regulated yen-denominated stablecoin for tokenized assets and global settlements, with a launch planned for the second quarter of 2026.

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