SBI VC Trade, the digital asset arm of SBI Holdings, islaunching a USDC lending product on March 19, bringing regulated access todollar-pegged crypto returns in the domestic market. It allows retail investorsin Japan to earn yields by lending stablecoins through a licensed platform.To celebrate the rollout, SBI VC said it will offer anannualized yield of 10% for a 12-week term during the initial phase. The company plans to maintain an annual rate of around 5%going forward—still well above most U.S. dollar time deposit rates, whichtypically range between 0.01% and 4%.High Initial Yield to Mark LaunchUnder the new program, users can lend Circle’s USD Coin(USDC) directly to the platform, with each offering capped at 5,000 USDC.Interest earnings will be treated as miscellaneous income for tax purposes,allowing small-scale participants to remain tax-exempt if their total annualmiscellaneous income stays under ¥200,000.SBI clarified that the service constitutes a loan, not adeposit, meaning participants face direct counterparty risk rather thanenjoying bank-style asset segregation. The company also reserves the right to re-lend the borrowedUSDC as part of its regular operations. Funds cannot be withdrawn during thefixed 12-week term, limiting quick access in response to market changes.SBI VC Trade’s move highlights the rapid evolution ofJapan’s regulatory stance on stablecoins. The company began handling USDC inMarch 2025 after becoming the only licensed platform in the country authorizedto distribute and trade stablecoins to the public.A Milestone in Japan’s Stablecoin EvolutionIn partnership with Circle, SBI has been advancing localstablecoin infrastructure. Their joint venture, established in August 2025,aims to promote USDC adoption and explore its use in digital finance. SBI VC Trade’s new USDC lending product comes as SBIHoldings accelerates its push into regulated digital assets and tokenizedmarkets. The launch adds a yield-bearing stablecoin service on top of SBI’sexisting USDC spot support and comes through a licensed domestic platform thattargets retail demand for dollar-linked returns. In parallel, SBI and Startale have begun building out“Strium,” a blockchain infrastructure for trading tokenized securities andreal-world assets in Asia. That project, along with their digital yenstablecoin initiative, shows SBI trying to stitch together stablecoins,tokenized assets and 24/7 settlement into a single architecture that can serveboth retail and institutional clients. SBI has also moved on the international front with astrategic investment in U.S. prime broker Clear Street and plans for a jointventure in Japan. That deal aims to connect SBI’s domestic securities andderivatives flow with modern prime brokerage infrastructure in the U.S., givingthe group more flexibility around cross-border trading and financing. This article was written by Jared Kirui at www.financemagnates.com.