SBI VC Trade

What SBI VC Trade does

SBI VC Trade Co., Ltd. is a Tokyo-headquartered, FSA-licensed cryptocurrency and electronic payment instruments exchange operating as a wholly-owned subsidiary of Tokyo Stock Exchange Prime-listed SBI Holdings. The company runs the VCTRADE platform — a proprietary trading system available via web (Simple Mode and Trader Mode) and iOS/Android mobile apps — supporting spot trading across 42 crypto assets, leveraged trading up to 2x for retail and 10x for institutions, dollar-cost averaging from 500 yen, staking on 17 assets (the broadest in Japan's domestic market), and crypto lending through its Rent Coin service spanning 34 assets. SBI VC Trade holds three Kanto Finance Bureau registrations — Crypto-Asset Exchange Service Provider (#00011), Type I Financial Instruments Business (#3247), and the country's first Electronic Payment Instruments Exchange Service Provider license (#00001) — which has enabled exclusive first-mover launches of USDC (March 2026), RLUSD (June 2026, Japan's first Type 4 electronic payment instrument), and JPYSC (June 2026, Japan's first trust bank-backed yen stablecoin).

The company generates revenue from trading spreads (¥5,000 standard BTC/JPY leverage spread), leverage funding rates, staking yield retention (17 assets; e.g., TON 11.5%, ATOM 18.5%, SOL 7.4% as of May 2026), retail USDC lending (10% APY promotional, ~5% expected settled), and premium SBIVC for Prime services for corporate clients (66% market share in mark-to-market tax exemption services as of January 2025). It serves three primary segments: Japanese retail investors (freemium self-serve via web/app), corporate and Web3 businesses (SBIVC for Prime with dedicated account management, preferential staking fees of 10% vs. 25% standard, and crypto tax exemption services), and institutional clients exploring stablecoin-based settlement. Distribution leverages the SBI Group ecosystem — co-marketing with SBI Shinsei Bank, Aplus card services, and SBI Remit — as well as partnerships with Ripple Labs, Circle, Startale Group, and Visa.

SBI Holdings announced on June 24, 2026 the planned acquisition of Bitbank (Japan's third-largest crypto exchange) for approximately ¥46.7B (~$289M), to merge with SBI VC Trade and create Japan's largest regulated crypto exchange group with approximately 2.92 million accounts and ~¥1.1 trillion (~$6.8B) in assets under custody. Pre-merger assets under custody exceeded ¥600B as of July 17, 2025, rising from ¥500B in just eight days.

Name

SBI VC Trade

Legal name

SBI VCトレード株式会社

Website

https://sbivc.co.jp

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

SBI VC Trade is a Tokyo-based FSA-licensed cryptocurrency and electronic payment instruments exchange, wholly-owned by SBI Holdings, operating the VCTRADE platform for Japanese retail, corporate, and institutional clients across 42 crypto assets and three stablecoins.

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid) (FSADAIAC)

akta.pro secondary industry

Crypto Borrowing & Margin Credit Facilities (FSADAFAC)

Keywords

• Cryptocurrency exchange
• Stablecoin distribution
• Crypto lending services
• Crypto staking services
• Digital asset trading

Headquarters

HQ city

Minato

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Trading spreads and exchange fees: Revenue generated from spreads between buy and sell prices in the proprietary exchange (VCTRADE), plus exchange transaction fees on board trading. Competitive pricing with 5,000 yen standard spread for BTC/JPY leverage trading as of June 2026.
2. Crypto lending interest: Interest income from USDC lending service (retail users lend to SBI VC Trade at fixed terms). Initial promotional rate of 10% APY for 12 weeks, expected to settle around 5% annually. Also operates Rent Coin lending for XRP, BTC, DOGE and other assets.
3. Staking services: Staking rewards generated from delegating user assets to validators, with SBI VC Trade retaining a portion. Covers 17 staking-eligible assets including TON (11.5% APY), ATOM (18.5%), SOL (7.4%) as of May 2026.
4. Corporate services (SBIVC for Prime): Premium service fees and preferential terms for corporate clients, including the期末時価評価課税の適用除外 (mark-to-market tax exemption) service covering all 24 tradable assets, generating fee income from high-volume institutional trading.
5. Leverage trading funding rates: Funding rate income from leveraged trading positions. Standard spread of 5,000 yen for BTC/JPY leverage trading, with promotional period June 5-19, 2026 generating approximately 4.7x volume increase.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

SBI VC Trade operates VCTRADE, a Japan Financial Services Agency-licensed cryptocurrency and electronic payment instrument exchange offering spot trading across 42 crypto assets and 3 stablecoins (USDC, RLUSD, JPYSC), leverage trading, crypto lending (Rent Coin), staking for 17 assets, and the SBI VISA Crypto Card. The platform serves Japanese retail investors through self-serve web and mobile channels and corporate/institutional clients through the dedicated SBIVC for Prime premium service.

Product overview

SBI VC Trade operates as a full-service cryptocurrency and electronic payment instruments exchange platform under Japan's Financial Services Agency, offering the broadest regulated digital asset product lineup in Japan. The platform is structured as a unified exchange (VCTRADE) providing core spot trading of 42 crypto/stablecoin assets, leverage trading (up to 2x retail / 10x institutional), and staking on 17 assets, supplemented by specialized sub-products including three distinct stablecoin trading services (USDC launched March 2026, RLUSD launched June 2026, and JPYSC launched June 2026), the SBI VISA Crypto Card for earning BTC/ETH/XRP rewards on spending, a Rent Coin lending service across 34 assets, and USDC-specific retail lending at 10% APY. The platform also offers dollar-cost averaging (tsumitate), a Web3 wallet for NFTs, SBIVC for Prime premium tier for institutional clients, and a tax exemption service for corporate crypto holders holding 66% of Japan's institutional market. The platform's infrastructure comprises mobile app, Trader Mode (pro web), and Simple Mode (beginner web) interfaces, all connected via Sygna for Travel Rule compliance.

Differentiator

Problem solved

Functional benefit

Products and services

• VCTRADE Exchange Platform Core cryptocurrency and electronic payment instrument exchange platform operated by SBI VC Trade, offering spot trading, leverage trading, crypto lending (Rent Coin), staking, and dollar-cost averaging for retail and institutional users in Japan. Available via web (Simple Mode for beginners, Trader Mode for professionals) and iOS/Android mobile apps.
• USDC Trading Service USD Coin stablecoin trading service enabling direct JPY-USDC exchange for retail customers. SBI VC Trade is the only FSA-licensed platform in Japan to offer USDC to retail customers, with free deposits and withdrawals.
• RLUSD Trading Service Ripple USD stablecoin trading service, classified as Japan's first Type 4 electronic payment instrument under Japan's Payment Services Act. Available on Ethereum blockchain only, with free deposits and withdrawals and a 1 million yen per-transaction cap.
• JPYSC Trading Service Japan's first trust bank-backed yen stablecoin issued by SBI Shinsei Trust Bank. As a Type III trust-backed stablecoin under Japan's Payment Services Act, it carries no transaction cap and allows up to 50% Japanese Government Bond reserves. Distributed exclusively through SBI VC Trade.
• Rent Coin (貸コイン) Crypto Lending Crypto lending service allowing users to lend idle crypto holdings (34 supported assets including BTC, ETH, XRP, DOGE) to the platform and earn returns. Users assume direct counterparty risk as loans are made to SBI VC Trade.
• Staking Service Staking service offering yields on 17 cryptocurrency assets with no lockup or application required — rewards are earned automatically by holding assets in the account. Supported assets include TON (11.5% APY), ATOM (18.5%), SOL (7.4%), and XDC (7.0%) as of May 2026.
• Spot Trading Service Spot trading platform offering 42 cryptocurrency and electronic payment instrument assets including BTC, ETH, XRP, SOL, TRX, DOGE, ADA, BCH, LINK, CANTON, XLM, LTC, HBAR, AVAX, SUI, TON, SHIB, DOT, NEAR, ETC, POL, ATOM, FLR, APT, ALGO, XDC, XTZ, CHZ, SAND, AXS, BAT, BERA, APE, OAS, ZPG, NIDT, OMG, MKR, USDC, RLUSD, JPYSC, and DAI. Minimum purchase from 1 yen for spot transactions.
• Leverage Trading Service Leveraged crypto trading service with up to 2x margin for retail customers and up to 10x for institutional users. Standard BTC/JPY leverage spread set at ¥5,000 as of June 2026.
• SBI VISA Crypto Card Credit card co-issued with Aplus (SBI Shinsei Bank subsidiary) and Visa, earning users Bitcoin, Ethereum, or XRP rewards on purchases. Standard tier offers 0.5% base cashback (0.8% max); Gold tier offers 1.0% base (1.3% max) with airport lounge access. Converts Aplus loyalty points to crypto monthly at no exchange fee.
• SBI Web3 Wallet Web3 wallet service integrated within the SBI VC Trade platform, enabling NFT trading and Web3 interactions. Also supports Wrapping and Delegation features for supported assets.
• SBIVC for Prime (Institutional Service) Premium service tier for high-volume individual and institutional clients (minimum 10 million yen trading volume), offering preferential rates on lending, up to 10x leverage trading, cashback on transactions, special staking discounts (10% vs standard 25%), and exclusive support including Web3 business support and dedicated account managers.
• USDC Retail Lending Service Retail USDC lending service offering 10% annualized yield for an initial 12-week term, then approximately 5% annually. Maximum 5,000 USDC per offering. Interest is classified as miscellaneous income; tax exemptions available for earnings below ¥200,000 annually.
• Mark-to-Market Tax Exemption Service (期末時価評価課税の適用除外サービス) Service allowing corporate clients to exclude unrealized gains on crypto assets from end-of-period tax assessment, enabling long-term crypto holding without tax liability on paper gains. Covers all 24 tradable asset classes. As of January 2025, this service held a 66% industry market share in Japan.
• SBI START Bonds (Security Token Offering) 10 billion yen (~$64.5 million) blockchain-based security token bond issued by SBI Holdings via BOOSTRY platform, rewarding investors with XRP cryptocurrency. Bonus XRP distributions for bond investors extend through 2029.

Quantifiable outcome

• Combined entity becomes Japan's largest regulated crypto exchange ahead of bitFlyer and Coincheck
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered flagship, core and minor.

• Ripple Labs Inc.flagshipStrategic or Co-development Partner · 24 June 2026Long-standing partnership (dating to 2016) between SBI Holdings and Ripple Labs. In June 2026, Ripple's RLUSD dollar-backed stablecoin launched in Japan exclusively through SBI VC Trade as the country's first Type 4 electronic payment instrument under the Payment Services Act. RLUSD is issued by Standard Custody & Trust Company (NYDFS-regulated), backed 1:1 by USD deposits and short-term US Treasuries with monthly third-party attestations. The rollout extends Ripple's institutional distribution in Japan, positioning RLUSD within Japan's regulated payment framework for enterprise settlement, treasury, and tokenization services.
• Startale GroupflagshipStrategic or Co-development Partner · 24 June 2026SBI Holdings and Startale Group (Singapore) jointly developed JPYSC, Japan's first trust bank-backed yen stablecoin. Issued by SBI Shinsei Trust Bank under Japan's Payment Services Act (first Type III trust-backed yen stablecoin), distributed exclusively through SBI VC Trade. Startale Group handles technical infrastructure (built on Strium L1 blockchain). First issuance completed June 24, 2026 with no transaction cap (vs. ¥1M daily limit for prior yen stablecoins). Also partnered for Nonagon Capital POC on AI agent payment use cases. Startale raised $63M Series A ($50M from SBI Holdings, $13M from Sony).
• Visa Worldwide Japan / ApluscoreGTM or Marketing Partner · 1 May 2026SBI Group launched the SBI VISA Crypto Card on May 1, 2026 — a credit card that rewards users with BTC, ETH, or XRP based on spending, converting Aplus points into cryptocurrency monthly at no exchange fee. Aplus (subsidiary of SBI Shinsei Bank) provides card infrastructure, Visa Worldwide Japan provides payment rails, and SBI VC Trade handles crypto custody and conversion. Standard tier: 0.5-0.8% crypto reward, Gold tier: 1.0-1.3% crypto reward. Also offers NFT giveaways with Rain Tree idol group.
• Nonagon CapitalminorStrategic or Co-development Partner · 27 March 2026Nonagon Capital (Hotlink Group, San Francisco Bay Area) partnered with Startale Group on March 27, 2026, to develop proof-of-concept initiatives for JPYSC targeting AI agent-driven payment use cases. Deloitte projects AI agent-driven commerce will reach $17.5 trillion by 2030. Planned use cases include agent-to-agent settlements, autonomous purchasing, and real-time micropayments for global enterprises.
• Asia Web3 Alliance JapancoreStrategic or Co-development Partner · 20 February 2026SBI Ripple Asia signed a memorandum of understanding with the Asia Web3 Alliance Japan to establish a venture studio providing technical and regulatory support to startups building on the XRP Ledger, targeting both retail crypto onboarding and institutional developer adoption.
• Circle Internet Financial (USDC)flagshipStrategic or Co-development Partner · 1 August 2025Joint venture established August 2025 between SBI Holdings and Circle to promote USDC adoption in Japan. SBI VC Trade became the only licensed platform in Japan authorized to distribute and trade stablecoins to the public, receiving FSA approval on March 4, 2025 to list USDC ahead of March 26, 2025 launch. Circle Japan KK was established as a dedicated local operational entity. USDC is positioned as a corporate infrastructure tool for instant foreign currency settlement targeting Japanese institutions. SBI VC Trade also launched a retail USDC lending service in March 2026.
• Tottori BankminorChannel Partner/ Reseller/ DistributorTottori Bank partnered with SBI Ripple Asia for Ripple-powered international remittance services targeting Indonesia, Philippines, and Vietnam corridors, expanding XRP-based remittance infrastructure regionally.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Others

• Startale Group: Singapore-based blockchain infrastructure company (Sony- and SBI-backed) that co-developed the JPYSC yen stablecoin and operates the Strium L1 blockchain underpinning it. Strategic infrastructure partner enabling SBI VC Trade's exclusive JPYSC distribution.
• Ripple Labs: Issuer of the XRP token, RLUSD stablecoin, and Ripple payment network — strategic partner to SBI VC Trade since 2016 and exclusive distributor of RLUSD in Japan. Adjacent infrastructure provider rather than direct competitor; central to SBI VC Trade's stablecoin and XRP-based product strategy.
• Circle: USDC stablecoin issuer and regulated US money transmitter; partner of SBI Holdings via a joint venture (SBI Circle Japan) established August 2025. Adjacent issuer partner rather than competitor — provides the USDC rails that SBI VC Trade distributes as Japan's only licensed USDC retail platform.

Direct peers

• Bitbank: Japan's third-largest cryptocurrency exchange by daily trading volume, operating a regulated spot trading platform for Bitcoin, Ethereum, XRP, and other major assets. The most directly comparable peer — and announced merger partner — given shared Japanese retail-crypto focus, FSA licensing, and similar product scope.
• bitFlyer: Japan's largest bitcoin broker and crypto exchange by trading volume, with full FSA registration across Crypto-Asset Exchange and Type I Financial Instruments Business. Direct competitor in retail and institutional crypto trading, with overlapping staking, leverage, and corporate services offerings.
• Coincheck: Major Japanese crypto exchange (part of Coincheck Group, Monex Group subsidiary) offering spot trading, lending, and staking across dozens of tokens to retail customers. Direct competitor in Japan's domestic crypto market with comparable FSA-regulated product breadth and retail acquisition focus.
• GMO Coin: Japanese crypto exchange operated by GMO Internet Group, offering spot and leverage trading plus staking to retail investors. Comparable as a domestically-licensed exchange with a diversified fintech parent ecosystem similar in spirit to SBI Holdings.

Broad incumbents

• Binance: World's largest cryptocurrency exchange by trading volume, offering spot, leverage, staking, lending, and a broad token lineup. A broad incumbent rather than direct Japan competitor — operates globally while SBI VC Trade is Japan-domiciled, but competes for institutional stablecoin liquidity and cross-border flow.
• Coinbase: Largest US publicly-listed crypto exchange offering spot trading, custody, staking, and an institutional prime brokerage. Comparable as a broad incumbent in regulated crypto trading and stablecoin distribution; relevant benchmark for institutional-grade product positioning.
• Kraken: Major US-headquartered crypto exchange offering spot, margin, staking, and OTC trading across hundreds of assets. Comparable as a broad incumbent with similar regulated-market positioning and institutional prime services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/sbivc_official

Compliance14 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SBI VC Trade