SBI to Launch JPYSC Lending Service With 3% Annual Yield

SBI Group will launch a lending service offering a 3% annual yield on deposits of its yen stablecoin JPYSC.

The Block reported on July 13 that SBI Group will begin accepting applications for the JPYSC lending service through SBI VC Trade on July 16.

The product has a fixed 12-week term, with the initial yield set at 3% annually.

JPYSC is a yen stablecoin SBI launched last month. At the time, the company said it expected the token to attract retail and corporate users with low transaction costs and support for large-volume transfers.

The service is part of SBI Group's broader push into on-chain finance. The company recently acquired Japanese crypto exchange Bitbank for about $289 million and was the sole investor in major funding rounds for Gauntlet and EDX Markets.

An SBI spokesperson told The Block that the group's goal in the on-chain sector is to provide comprehensive services ranging from exchanges to asset tokenization and market platforms. The spokesperson added that the recent acquisitions, investments and partnerships are all part of a group-wide strategy.

Japan's financial industry is also stepping up its stablecoin efforts. Lawson, a Japanese convenience store chain, is expected to test payments using the yen stablecoin JPYC at some stores.

Japan's three megabanks — Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corp. and Mizuho Bank — have said they plan to begin real-world commercial transactions using a jointly issued stablecoin during fiscal 2026.