Best crypto-backed loans in Japan
Figure ranks highest in ChainChoice’s published crypto-backed loans ranking among the providers that list Japan. Among the highest crypto tax rates globally (up to 55%). Reform proposals to move to a flat 20% are pending.
How this page is reviewed
Reviewed means every product ranked on this page was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
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Which crypto-backed loan should Japan residents use in November 2026?
Figure ranks highest in ChainChoice’s published crypto-backed loans ranking among the providers that list Japan. The order is the published ranking itself; providers whose terms exclude Japan are removed. Check authorisation with FSA before depositing.
- Japan residents holding capital in JPY
- Users who need FSA-aligned compliance and audit-grade reporting
- Buy-and-hold profiles benefiting from Japan's tax treatment
- Sophisticated retail and family-office treasurers
- Derivatives / perpetuals traders (use a regulated futures venue instead)
- Privacy-focused users avoiding KYC (these are licensed venues)
- Day-traders chasing the lowest spreads regardless of regulator posture
- Anyone needing a service FSA does not currently authorise
General guidance for Japan: the ranking engine does not compute these notes and they do not change the order below. If none fits you, answer the Find My Best questions for a result for your profile.
3 crypto-backed loans listed for Japan
In ChainChoice’s published ranking order, from this category’s 5 providers: those whose terms exclude Japan are removed; naming Japan or a region that covers it counts the same, and those whose terms do not state it come last. Each chip names the basis: a dated check, a region listing, or the provider's own claim.
#1 for JapanFigure#1 globallyProvider states broad availability Figure Markets' binding Terms of Service keep title to pledged crypto with the borrower and bar its sale, loan or hypothecation unless the borrower instructs it, in a per-loan wallet partition — but Figure's 2025 annual report on Form 10-K says the loan collateral "is in the Company’s control" and that the Company "has the ability to rehypothecate, stake, lend or otherwise use" it, and only that it "does not have a practice" of doing so; no Figure crypto-backed loan agreement is public, so the borrower's insolvency rank is unstated.
Lender of record and lending licence — 7/10Margin call and forced sale — 6/10#2 for JapanLedn#2 globallyProvider states broad availability Ledn publishes its USD loan agreement, and the agreement says title to your bitcoin passes to Ledn, that Ledn may pledge it onward, that you rank as an unsecured creditor, and that you still owe the shortfall after a forced sale.
Computable cost before you apply — 7/10Collateral title and reuse — 5/10#3 for JapanNexo#4 globallyProvider states broad availability Nexo's Credit Line is not a secured loan: the binding agreement transfers legal title of your bitcoin to Nexo on deposit, the borrower irrevocably waives any secured claim in Nexo's insolvency, and liquidation may happen without notice against a threshold Nexo publishes nowhere.
Computable cost before you apply — 3/10Lender of record and lending licence — 2/10
Commission: None of these providers pays ChainChoice anything for these links. Disclosure
Facts only in your country: local rules on promoting crypto-asset products are under review, so ChainChoice shows no sign-up links and earns no referral fees here.
Crypto products are high risk. Check the provider is authorised where you live before you deposit.
- Oracle failure: a wrong price or outcome liquidates or settles a position.Scored by Who sets the price that liquidates you, how long do you really get, and can they sell without telling you? · 26% (Figure 6/10, Ledn 4/10, Nexo 1/10)
- Insolvency failure: the firm or issuer that owes you cannot pay.Scored by If the lender fails, is it your bitcoin or theirs — and what may they do with it before then? · 34% (Figure 5/10, Ledn 5/10, Nexo 1/10)
- Regulatory failure: no licence where you are, or a forced market exit.Scored by Which entity actually becomes your creditor, and does a register say it may lend? · 18% (Figure 7/10, Ledn 5/10, Nexo 2/10)
Each cell is verified against the provider's filings or the FSA register; a gap shows "—", never an estimate.
| Provider | Taker fee in Japan | KYC tier | JPY rails | FSA license |
|---|---|---|---|---|
| #1Figure | — | — | — | — |
| #2Ledn | — | — | — | — |
| #3Nexo | — | — | — | — |
Source: ChainChoice provider catalog cross-referenced with the FSA register; each fee as of its entry's latest verification (accuracy methodology).
Is using a crypto-backed loan legal in Japan?
Yes. Crypto-backed loans are regulated in Japan by Financial Services Agency (FSA). Always verify a platform's licensing status with FSA before transacting.
How is crypto taxed in Japan?
Crypto gains taxed as miscellaneous income at progressive rates up to 55% (national + local). Losses cannot offset other income categories. Editorial summary, not tax advice: consult a qualified tax advisor in Japan before filing.
What payment methods work for buying crypto in Japan?
The most common rails for retail onramps in Japan are: Wire, Convenience Store, Pay-easy.
Are international platforms (Coinbase, Kraken, Binance) available in Japan?
Availability varies by platform and product. Japan has its own licensing regime under FSA, and not every global platform is registered. The shortlist above removes platforms whose terms exclude Japan; the chip on each row says whether availability is verified, listed or unstated.