SBI VC Trade Launches JPYSC Lending With 3% Introductory Yield

SBI VC Trade is launching a yen-denominated stablecoin lending product that will initially pay a 3% annual rate. Applications for JPYSC Lending are scheduled to open on July 16, 2026, giving eligible Japanese users a new way to earn a return on digital yen balances.

The introductory offer uses a 12-week fixed term. Customers lend JPYSC to SBI VC Trade and receive a usage fee at maturity. SBI says later offerings are expected to carry annual rates between 1% and 3%, depending on the terms available at the time.

How JPYSC Lending works

JPYSC is a Japanese yen-denominated stablecoin issued by SBI Shinsei Trust Bank, with SBI VC Trade handling distribution. SBI Group and Startale Group launched the token on June 24, initially inside the VCTRADE service while the companies prepare for eventual circulation on public blockchains.

The first lending offer has a 12-week maturity and an annualized rate of 3%. That does not mean users earn 3% over the 12-week period. On a simple annualized basis, the gross return would be roughly 0.69% for 12 weeks before taxes and any product-specific adjustments.

This product adds a regulated Japanese option to the growing market for stablecoin yields. Unlike dollar-backed stablecoins, JPYSC is designed to track the yen, so Japanese users do not take direct USD/JPY exchange-rate exposure simply by holding the token.

Higher yield comes with different protections

SBI compares the introductory rate with typical three-month yen deposit rates, but the two products are not equivalent. JPYSC Lending is a loan to SBI VC Trade, not a bank deposit, and it is not protected by Japan's deposit insurance system.

Users should also expect their JPYSC to be locked for the full term. SBI says early cancellation is generally unavailable. The return is therefore compensation for lending the token and accepting counterparty and liquidity risk, rather than interest on an insured savings account.

Tax treatment is different as well. SBI says lending income is treated as miscellaneous income in Japan rather than bank-deposit interest. Individual circumstances vary, so users should check current tax guidance before participating.

Why the launch matters

JPYSC Lending expands the role of yen stablecoins beyond payments and settlement. SBI VC Trade already introduced a USDC lending service in March, and the company now wants JPYSC to support domestic savings-style use cases without requiring users to move into a dollar-denominated asset.

The product also gives Japan's emerging stablecoin market a visible yield benchmark. Whether the introductory 3% rate remains attractive will depend on later offer terms, JPYSC liquidity and how quickly the token moves beyond SBI's closed account environment.

Users comparing the product with other crypto yield opportunities should focus on the effective return for the actual term, withdrawal restrictions, counterparty exposure and tax treatment—not the headline annual rate alone.

SBI VC Trade published the full launch terms and risk disclosures in its official announcement.