# Japan launches $6.2 million Bitcoin‑backed loans, US firms offer

**Published:** 2026-08-16T17:34:41.153Z  
**Topic:** Crypto Lending  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/af36f576-9f29-4629-a631-214df66d73db

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 |

## Japan’s new Bitcoin‑backed loan product  
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.

## U.S. offerings and market context  
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】.

## Competitive landscape  
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.

## What to watch
- **Regulatory updates in Japan** – any changes to the collateral‑ratio ceiling or expansion to other digital assets could shift competitive dynamics.  
- **LTV policy adjustments** – a move by Figure to raise its LTV limit above 75% would tighten the gap with Japanese offerings.  
- **Market‑wide loan volume** – tracking the $73.6 billion global crypto‑loan book for growth trends will signal demand for such products.

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.

## Sources
1. CoinTelegraph — [Japanese lender launches Bitcoin-backed loans of up to $6.2M](https://cointelegraph.com/news/japan-cryl-bitcoin-backed-loans-6-million)
2. Decrypt — [Crypto-Backed Loans, Explained: How to Unlock Cash Without...](https://decrypt.co/375428/crypto-backed-loans-explained-how-to-unlock-cash-without-selling-your-bitcoin)
3. Saltlending — [Bitcoin-Backed Loans: Access Cash Without Selling BTC](https://saltlending.com/bitcoin-backed-loans-access-cash-without-selling-btc/)

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Cite as: TrendWatcher, "Japan launches $6.2 million Bitcoin‑backed loans, US firms offer", https://www.trendwatcher.in/article/af36f576-9f29-4629-a631-214df66d73db