Japan Launches First Trust-Backed Yen Stablecoin Lending Service

• SBI has launched Japan’s first trust-backed yen stablecoin lending service through SBI VC Trade.
• The 12-week JPYSC lending product offers a promotional annual yield of 3%, with future rates of 1% to 3%.
• The launch expands JPYSC’s use beyond payments as stablecoin adoption gains momentum across Japan.

Japan’s SBI Group is expanding its stablecoin offerings with the launch of the country’s first trust-backed yen stablecoin lending service. The product allows users to earn interest by lending their JPYSC holdings through the company’s crypto trading platform.

The new JPYSC Lending service will begin accepting applications on July 16 through SBI VC Trade. It will initially offer a 12-week fixed-term product with an annual yield of 3%.

SBI Launches Japan’s First JPYSC Lending Product

The service lets customers lend JPYSC, a trust-backed yen-denominated stablecoin,…

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