JPY / lending deposit

JPYSC Lending (SBI VC Trade)

JPYSC · issued by SBI Shinsei Trust Bank (stablecoin issuer); SBI VC Trade (lending service); built with Startale Group. verified

3.00%

published yield

n/d

size

cannot be held

can you hold it

The terms

Issuer: SBI Shinsei Trust Bank (stablecoin issuer); SBI VC Trade (lending service); built with Startale Group
Jurisdiction: Japan
Chains: Ethereum
Contracts: No contract address could be established from public sources. That is a disclosure gap on the issuer, and it is recorded as one.
Yield basis: Promotional annualised rate on a 12-week fixed term. Post-promotional yields are projected by the operator at 1-3% depending on market conditions. Because the 3% applies only to a 12-week term, the realised return over that term is roughly 0.69% before any rollover, a distinction press coverage frequently blurs. source
Size: Not disclosed on any source we could read. source
Minimum: Not disclosed
Who may hold it: Retail and corporate users of SBI VC Trade, a Japanese licensed crypto exchange. Applications opened 2026-07-16; lending began 2026-07-23. source
Redemption: Funds locked for the 12-week fixed term source
Cost to enter: Not disclosed
Transferability: Not transferable. The yielding balance cannot be sent to an external wallet, so it is a custodial position rather than an instrument you hold.
Secondary liquidity: None, and structurally cannot have any while the external-wallet restriction stands.

What we think you should know

Included with a strong caveat about how 'on-chain' this really is. JPYSC is Japan's first trust-bank-issued yen stablecoin, launched 2026-06-24 on Ethereum, seeded at ¥10bn (~$61.8m). But per Ledger Insights it is currently restricted to SBI VC Trade and CANNOT be transferred to external blockchain wallets pending regulatory approval, SBI states it intends to enable public blockchain circulation once tax and regulatory treatment are settled. So the token is on Ethereum but the holder base is a walled garden, and the 3% yield is a centralised exchange lending product, not an on-chain protocol rate. It is the largest yen yield offer by notional backing in this slice, which is why I did not drop it, but it should not be counted as DeFi. No contract address was published in any source I read.

Sources

Other JPY instruments

Instrument	Ccy	Type	Yield	Size	Access	Confidence
Secured Finance JPYC fixed-rate lending market (on-chain yen yield curve) JPYC	JPY	lending deposit	not published	n/d	permissionless	verified