Key facts
- CRYL is offering Bitcoin-backed loans ranging from 1 million yen ($6,200) to 1 billion yen ($6.2 million).
- Annual interest rates for the loans are between 3.5% and 7%.
- The loans require a collateral ratio of 40% to 60% and have a one-year term.
- Borrowers can use the fiat currency for various expenses, including taxes, business funding, and property purchases.
- Fintertech, a joint venture involving Daiwa Securities Group, offers a similar crypto-backed loan service in Japan.
Japanese lender CRYL has launched a new service offering Bitcoin-backed loans, allowing individuals and businesses to access fiat currency without liquidating their cryptocurrency holdings. The loans are available for amounts ranging from 1 million yen ($6,200) to 1 billion yen ($6.2 million), with annual interest rates between 3.5% and 7%. Borrowers must meet specific collateral ratios, set between 40% and 60% of the loan value, and the loans have a one-year term. CRYL positions this service as a third option for Bitcoin holders, alongside holding or selling their assets. Applicants are subject to a screening process, and most loans utilize a lump-sum repayment structure at the end of the term.
This initiative expands Japan's nascent market for regulated crypto-backed financing. Fintertech, a joint venture between Daiwa Securities Group and Credit Saison, has offered a similar service since 2020, providing loans up to $3 million against Bitcoin or Ether. CRYL's offering features a higher maximum loan amount and a lower minimum, though it is exclusively for Bitcoin collateral. Fintertech's service has annual rates from 4% to 8%, a 50% collateral ratio, and a minimum borrowing amount of 5 million yen ($31,000). Daiwa Securities began referring customers to Fintertech's digital asset-backed loans in October 2025.
Beyond direct lending, other Japanese firms are exploring more complex credit products utilizing Bitcoin. Metaplanet Securities, yen stablecoin issuer JPYC, and tokenization provider Progmat are jointly researching the use of Bitcoin as collateral or credit enhancement for digital corporate bonds and other blockchain-based credit instruments. This research phase is distinct from the loan products offered by CRYL and Fintertech, with no issuance decisions yet made.