The Japanese yen is nearing its lowest point in 40 years, prompting local companies to incorporate cryptocurrency into their financial strategies.
On Tuesday, SBI VC Trade reported an increase in corporate interest for bitcoin and XRP, as the declining currency pushes firms to seek diversification beyond traditional cash reserves. The exchange has seen its number of registered accounts soar to over 2 million, nearly double the count from 2025.
According to data from the CFTC, hedge funds have adopted a notably bearish stance on the yen, with short positions rising to almost 138,000 contracts as of June 30. The dollar is currently trading at approximately 162 yen in Asian morning trading on Wednesday.
The primary factor behind this trend is the disparity in interest rates between a tightening U.S. Federal Reserve and a Bank of Japan that has not kept pace, leading to unattractive conditions for holding yen cash and prompting firms to seek more stable assets.
SBI, the cryptocurrency division of Tokyo's SBI Holdings, observed a rise in demand for its corporate offerings, including programs that allow companies to distribute bitcoin or XRP as perks to shareholders.
This trend aligns with a broader market behavior noted throughout the month. The weakened yen has intensified the carry trade, where investors borrow at low rates in yen to invest in higher-yielding assets elsewhere, with some of this investment now flowing into cryptocurrencies via regulated Japanese platforms instead of offshore alternatives.
As of Tuesday, bitcoin was trading around $62,650, reflecting a weekly increase of 6.1%, based on CoinDesk data.