SBI VC Trade will open JPYSC lending applications on July 16, offering an initial 3% annual rate for a 12-week term without deposit insurance. Tokyo-based SBI VC Trade will begin accepting applications Thursday for a Japanese yen-denominated stablecoin lending service offering an initial annualized rate of 3% on JPYSC lent for 12 weeks. Customers will lend JPYSC to the SBI Holdings subsidiary from Thursday and receive the tokens back with a lending fee at maturity, the company said in a Monday press release. At the advertised rate, the gross return over the 12-week term would be about 0.69%, before tax. The company said the product pays more than the 0.325% to 1% annual rate SBI cited for ordinary yen deposits. Still, it is not a bank deposit, is not covered by deposit insurance and generally cannot be canceled early. Read more
Lawson will test yen stablecoin payments in Tokyo as Netstars launches a merchant service supporting USDC, USDT and JPYC. Japanese convenience-store operator Lawson plans to test yen-denominated stablecoin payments at a Tokyo location in August, examining whether stablecoin payments can work inside a standard convenience store checkout flow. On Monday, blockchain company HashPort said it had signed an agreement with Lawson and telecom group KDDI to conduct the trial at the Lawson Takanawa Gateway City store. Participants will use HashPort's non-custodial wallet, while the store will process payments through the company's point-of-sale system without needing to open or manage crypto wallets. The pilot aims to explore how stablecoin payments can be integrated into Japan’s existing retail infrastructure while shielding merchants from much of the operational complexity associated with accepting digital assets. Read more
The AI-native cohort of the expanding gig economy could increasingly use stablecoins to avoid slow and expensive traditional payment rails, Australian crypto exchange Swyftx said. AI-enabled microbusinesses could provide a major boost for stablecoin transaction volumes as the global gig and freelance payment market grows, according to Australian crypto exchange Swyftx. In a second-quarter industry report, Swyftx estimated the global gig and freelance payments market could reach $2.1 trillion by 2033, with AI-native workers accounting for $775 billion. Swyftx’s base-case model projected that $262 billion of the AI-native cohort’s payment volume could be settled in stablecoins, based on an assumed adoption rate of roughly 33%. “We see the vibe-coding and AI economy as a significant potential tailwind for stablecoin use,” Pav Hundal, lead market analyst at Swyftx, told Cointelegraph. Read more
Thailand has been plagued by Chinese-affiliated scam centers, with illicit gains flowing through a “gray money” economy. Thailand’s central bank is stepping up stablecoin surveillance as part of a wider effort to crack down on money laundering, illicit finance and “gray money” in the country. The Bank of Thailand is working with the Kingdom’s Securities and Exchange Commission to audit high-volume stablecoin transactions, with a focus on USDt (USDT), cash transactions and currency exchanges, to identify and stop illicit financial flows. “The measures we are implementing are not short-term fixes; they require the continuous deployment of multiple parallel strategies,” Bank of Thailand Governor Vitai Ratanakorn said, according to local media outlet The Nation on Saturday. Read more