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Japan’s CRYL now offers Bitcoin loans up to ¥1 billion ($6.2 M) at 3.5‑7% interest, while US lender Figure caps at 12.62% APR. See how terms differ and what to
A Japanese lender announced Bitcoin‑backed loans of up to ¥1 billion ($6.2 M) with collateral ratios of 40‑60% and one‑year terms, while U.S. competitor Figure caps its crypto‑backed loans at a 12.62% APR and a 75% loan‑to‑value (LTV) limit【1】.
| At a glance | |
|---|---|
| Max loan amount (Japan) | ¥1 billion ($6.2 M) |
| Interest rate (Japan) | 3.5 %–7 % annually |
| Collateral ratio (Japan) | 40 %–60 % |
| Term (Japan) | 12 months |
| Max APR (US) | 12.62 % (9.999 %–12.62 % APR) |
| Max LTV (US) | 75 % |
| Term (US) | 12 months |
CRYL’s launch expands Japan’s regulated crypto‑backed financing market, which previously capped loans at $3 million and required a 50% collateral ratio【1】. The new service lowers the minimum borrowing amount to $6,200, allowing both individuals and businesses to obtain fiat without selling BTC. Loans are issued on a lump‑sum basis, with principal and interest due after one year, and borrowers must pass a screening process. The product is positioned as a “third option” beyond holding or selling crypto, but the collateral is limited to Bitcoin only.
Figure’s crypto‑backed loans are available in select U.S. jurisdictions and charge a 1% origination fee plus interest that varies with LTV—8.91% for a 50% LTV loan and up to 12.62% APR for a 75% LTV loan【2】. Loans are interest‑only for 12 months, after which the full balance is due. The broader market for crypto‑collateralized lending reached $73.6 billion in outstanding loans in 2025, reflecting rapid growth as long‑term Bitcoin holders seek liquidity without triggering taxable sales【3】.
Japan’s CRYL offers a lower rate floor (3.5% vs. Figure’s 8.91%) but a higher maximum loan size, while Figure provides higher LTV flexibility up to 75% versus CRYL’s 60% ceiling. Both markets are still nascent; CRYL’s product is limited to Bitcoin, whereas Figure accepts multiple crypto assets. The Japanese market also includes Fintertech, which offers loans up to $3 million with 4%–8% rates and a 50% collateral ratio【1】, indicating a tiered ecosystem of providers.
The emergence of higher‑ceiling, lower‑rate Bitcoin loans in Japan alongside U.S. lenders’ flexible LTV structures underscores a growing appetite for crypto‑backed credit, but the ultimate impact will hinge on regulatory clarity and borrower adoption across jurisdictions.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Aug 16, 2026 · How we report
Users deposit cryptocurrency to earn interest as lenders, or they lock their digital assets as collateral to borrow funds without selling their holdings.
It is a decentralized financial service that operates across multiple blockchain networks, allowing users to lend and borrow assets on different chains to increase accessibility and liquidity.
Some platforms operate as decentralized protocols without credit checks, while others, such as Nexo, may obtain specific authorizations to offer regulated credit services within local consumer credit frameworks.
Primary risks include market volatility, the potential for collateral liquidation, and the fact that funds deposited on these platforms are typically not insured.