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Weak Yen Pushes Japanese Companies Toward Bitcoin and XRP

SBI VC Trade is seeing more business demand for Bitcoin and XRP as the yen keeps sliding. In Japan, crypto is increasingly being used as a treasury and rewards tool through regulated channels.

By Zenz van der Wielen
• 2 min read
Weak Yen Pushes Japanese Companies Toward Bitcoin and XRP

Key Takeaways

  • The weak Japanese yen is pushing more companies to put Bitcoin and XRP on their balance sheets.
  • SBI VC Trade says corporate demand for Bitcoin and XRP is rising and now reports more than 2 million registered accounts.
  • Pressure on the yen is tied to interest rate gaps, while Bitcoin traded around $62,650 on Tuesday.

The Japanese yen is hovering near its weakest point in nearly 40 years, and that is nudging more Japanese companies to add crypto to their balance sheets. SBI VC Trade says demand from businesses for Bitcoin and XRP is climbing as the yen''s slide puts more strain on traditional cash holdings. More broadly, companies are rethinking how they manage treasury reserves in response to currency weakness and rising FX risk. In Japan, some firms are also seeking digital asset exposure through regulated channels, a trend reflected in the rise of Bitcoin as a hedge against dollar weakness.

Companies Are Looking for Alternatives

SBI VC Trade said Tuesday that corporate interest in Bitcoin and XRP is increasing as businesses look for ways to diversify beyond cash. The crypto exchange, which is part of Tokyo-based SBI Holdings, also said its registered accounts have now passed 2 million, roughly double the number in 2025.

That move lines up with a wider shift in Japan. Some companies are already distributing Bitcoin or XRP through shareholder perk programs, which is making crypto more visible in the business world not just as a treasury asset, but also as a way to reward shareholders.

Yen Under Pressure From Interest Rate Gaps

The yen''s weakness is being driven by the widening rate gap between a hawkish Federal Reserve and a Bank of Japan that is still lagging behind. That makes yen holdings less appealing for many market participants and also supports the carry trade, where low-cost yen borrowing is used to fund positions in higher-yielding assets.

Hedge funds are now the most bearish on the yen since 2007. CFTC data showed short positions rising to nearly 138,000 contracts as of June 30, while the dollar traded around 162 yen in Wednesday''s Asian morning session.

Why This Matters for Crypto

For European crypto readers, the key point is that these flows do not appear to be coming through offshore channels, but through regulated Japanese platforms. That suggests that in a major developed market, crypto is increasingly being treated as part of treasury management, especially when local currencies stay under pressure for a long stretch.

Bitcoin traded around $62,650 (€54,800) on Tuesday, up 6.1 percent on the week, according to CoinDesk data.

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