Japanese companies are increasingly adding bitcoin and XRP to their corporate treasuries as the yen trades near its weakest level in more than four decades, according to CoinDesk. The crypto exchange SBI VC Trade, under SBI Holdings, is experiencing rising corporate demand for these digital assets as firms seek alternatives to traditional cash reserves. This trend is particularly notable among companies that distribute cryptocurrency through shareholder-perk programs, as reported by CoinDesk. The increase reflects growing demand from businesses looking to cut cash holdings and diversify reserve assets into alternatives such as cryptocurrencies as the yen's weakness persists. SBI VC Trade specifically noted that usage of its enterprise service, SBIVC for Prime, is growing as companies seek to diversify their reserve holdings away from sole cash allocation amid the yen's weakness. Companies are not buying Bitcoin and XRP for classic exchange speculation, but for a new national practice in which corporations include cryptocurrency in their shareholder loyalty programs, with the company stating this incentive tool is working flawlessly.
SBI VC Trade reported that its registered accounts across VCTRADE and BITPOINT services have surpassed 2 million, with the round figure of 2 million accounts recorded on July 6, as reported by CoinDesk. The milestone combines both services and follows the company's April 2026 merger with BitPoint Japan. The exchange plans to complete the full integration of both brands by the end of December 2026 to reduce costs and standardize service offerings. The surge in account registrations directly correlates with the growing corporate demand for cryptocurrency services, with the company stating that some businesses distribute Bitcoin or XRP to shareholders through shareholder reward programs, which has driven demand for these assets. The company is literally taking over the developing stablecoin market, having launched last month Japan's first regulated trading of Ripple's dollar-pegged token RLUSD and the yen trust token JPYSC.
Market participants are linking the crypto adoption trend to an expansion in yen-funded carry trades, according to CoinDesk. As investors borrow low-interest yen to invest in higher-yielding assets, some of that money is flowing into cryptocurrencies through regulated exchanges in Japan rather than offshore platforms. This shift reflects the yen's weakness persisting amid elevated U.S. interest rates and the Bank of Japan's relatively accommodative monetary policy. The trend demonstrates how foreign exchange movements are driving domestic crypto adoption in Japan. Bitcoin traded near $62,650 on Tuesday, up 6.1% on the week, as reported by CoinDesk, reflecting the broader crypto market momentum driven by yen weakness. The dollar eased slightly on Friday but was set to end the week little changed, with the dollar standing at 162.36 against the yen, headed for a weekly gain of more than 0.5% against the Japanese currency.
The yen's decline is being driven by the interest-rate gap between a hawkish U.S. Fed and a Bank of Japan still far behind it, creating conditions where holding yen cash becomes a losing position. Hedge funds have turned the most bearish on the yen since 2007, boosting bets on further losses to nearly 138,000 contracts as of June 30, according to CFTC data. The dollar buys around 162 yen as of Asian morning hours Wednesday, representing the yen's weakest level in four decades. The conglomerate's ultimate goal is obvious — overtake its main historical competitors by client base, including Coincheck, which still leads with 2.62 million accounts, and bitFlyer, while building a full-fledged on-chain ecosystem. SBI VC Trade claims first place in the country by the number of coins available for staking, giving businesses an additional source of passive income. The company immediately rolled out a lending service for the new tokens, allowing users to earn on lending in digital dollars.
Stablecoins have emerged as a second major driver of crypto adoption in Japan. SBI VC Trade launched USDC in March 2025 in what it called Japan's first dollar-stablecoin listing, and in June 2026 added Ripple's dollar-backed RLUSD alongside JPYSC, a yen-pegged token it described as the country's first trust-based yen stablecoin. The exchange also began offering lending services based on stablecoins, which has helped drive adoption among both retail and corporate users in Japan. CoinDesk previously reported that RLUSD has been approved under Japan's local regulatory framework, with services provided by SBI VC Trade. SBI VC Trade describes JPYSC as Japan's first yen-backed stablecoin built on a trust structure. The full green light for Ripple assets is explained by the fact that the two companies are connected through the joint venture SBI Ripple Asia, which has been gradually moving Japan's huge 30-trillion-yen prepaid payments market onto the blockchain.
