Japanese Lender CRYL Launches Bitcoin-Backed Loans Up to $6.2 Million

Japanese lender CRYL has launched Bitcoin-backed loans up to 1 billion yen (approximately $6.2 million), allowing individuals and businesses to raise fiat currency without selling their BTC. Borrowers can access between $6,200 and $6.2 million at annual interest rates of 3.5% to 7%, with collateral ratios of 40% to 60% and one-year loan terms. The product supports expenses including taxes, business funding, and property purchases.

CRYL's offering differs from Fintertech, Japan's existing crypto-backed lender (a joint venture between Daiwa Securities Group and Credit Saison), in two key ways: CRYL advertises a higher loan ceiling and lower minimum borrowing amount of $6,200 versus Fintertech's 5 million yen (approximately $31,000). However, CRYL limits collateral to Bitcoin only, while Fintertech accepts Bitcoin or Ether.