Japanese lender CRYL has launched Bitcoin-backed loans of up to ¥1 billion, or about $6.2 million, giving individuals and businesses access to yen without selling their BTC.
The Bitcoin-backed loan service opened on July 9 with borrowing amounts ranging from ¥1 million to ¥1 billion. Annual interest rates run from 3.5% to 7%, while borrowers can select a loan-to-value ratio between 40% and 60% in five-percentage-point increments. Bitcoin is the only eligible collateral.
CRYL offers separate contracts for individuals, sole proprietors, property buyers and corporate customers. Loan proceeds can cover living costs, tax payments, business expenses, real estate purchases and other funding needs.
Applications, identity verification and contracts are completed online. Approved borrowers transfer BTC to a designated address before CRYL sends the loan proceeds to their bank account, with funding available as soon as the next business day after the collateral is confirmed.
One-Year Terms And Bullet Repayment
The standard loan term is one year, with rollover available without an extension fee. Borrowers do not make monthly principal or interest payments. The full principal and accumulated interest are due in one lump sum at maturity.
Credit-line contracts allow additional borrowing when the outstanding balance remains within the approved limit and the LTV stays at or below 60%. Loans arranged specifically for property purchases do not permit additional draws.
No guarantor is required, but applicants must pass CRYL’s screening process. Individual borrowers must be at least 18 and younger than 70, with stable income that meets the lender’s requirements. Late balances carry a 20% annual interest rate.
Bitcoin price volatility remains the main collateral risk. CRYL calculates collateral value using a three-day average based on prices recorded at 9 a.m. at its selected crypto exchange. An LTV increase to 70% requires the borrower to add collateral.
If the additional BTC is not received by 11:59 p.m. on the third business day after the threshold is breached, CRYL can liquidate the pledged Bitcoin and use the proceeds to repay the outstanding debt.
Japan’s Bitcoin Credit Market Widens
CRYL enters a Japanese market where Fintertech already lends against Bitcoin and Ether. The Daiwa Securities Group and Credit Saison joint venture offers loans from ¥5 million to ¥500 million at annual rates between 4% and 8%, with a one-year term and a 50% LTV.
The launch also extends a wider expansion in Bitcoin-secured credit. Strike recently introduced Bitcoin-backed loans without price-based liquidations, while Coinbase’s Bitcoin-backed loan book passed $2.17 billion through Morpho markets on Base.
CRYL was established in December 2025 and operates as a Tokyo-registered money lender under license number 32065. The company belongs to the J-CAM group, which also operates the BitLending crypto lending service.
