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

not published

published yield

n/d

size

cannot be held

can you hold it

The terms

Read from the sources below on 2026-08-05. Legal terms and contract addresses change rarely, so we re-verify these on a longer clock than the numbers above.

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: No current rate is published. SBI's product page states only 1 to 3% per annum, planned, and that the annual rate varies with market conditions. Per round rates are visible only behind a logged in account. The 3.0% we previously published was the commemorative launch round and has expired. 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. Lending is sold in discrete rounds with their own application windows, not as an open ended deposit. source
Redemption: Funds locked for the term of the round, most recently 84 days 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

Yield withdrawn, instrument kept. The 3% was the launch round only: SBI's own announcement dated 2026-07-13 gives an application window of 2026-07-16 to 2026-07-30, lending start 2026-07-23 and an 84 day term, and describes it as a commemorative offer. 3% x 84/365 is 0.6904%, which is the realised return over that term and is the distinction press coverage of this product consistently blurs. A new round opened 2026-08-06 and closes 2026-08-13 with a lending end date of 2026-11-05, but its rate is behind login and we do not have an account. The standing product page publishes a range, 1 to 3% planned, and no current figure, so there is nothing dated to quote. The structural caveats are unchanged. JPYSC is Japan's first trust bank issued yen stablecoin, launched 2026-06-24 on Ethereum, seeded at 10bn yen (about $61.8m), and it still cannot be transferred to external blockchain wallets pending regulatory approval. The token is on Ethereum but the holder base is a walled garden, and this is a centralised exchange lending product rather than an on chain protocol rate. No contract address has been published. Kept in the index because it is the largest yen yield offer by notional backing, not because it is DeFi.

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