Best crypto money-market funds in Japan
Spiko US T-Bills Money Market Fund (USTBL) ranks highest in ChainChoice’s published money-market funds 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.
How we review · Review calendar · Corrections log · How we make money
Which crypto money-market fund should Japan residents use in November 2026?
Spiko US T-Bills Money Market Fund (USTBL) ranks highest in ChainChoice’s published money-market funds 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.
5 money-market funds listed for Japan
In ChainChoice’s published ranking order, from this category’s 8 providers: those whose terms exclude Japan are removed; those silent on it come last. Each chip names the basis: a dated check, a region listing, or the provider's own claim.
#1 for JapanSpiko US T-Bills Money Market Fund (USTBL)#1 globallyProvider states broad availability A French-domiciled money market fund approved by the AMF, with a one-dollar minimum and an ISIN, distributed by Spiko and managed by Twenty First Capital.
Regulator and registration number — 10/10Published fee against fund yield — 8/10Portfolio and liquidity rules — 8/10#2 for JapanFidelity Treasury Digital Fund — OnChain class (FYOXX / FDIT)#2 globallyProvider states broad availability A Rule 2a-7 registered money market fund with a dedicated on-chain share class whose blockchain record is explicitly secondary to the transfer agent's book-entry register.
Regulator and registration number — 10/10Portfolio and liquidity rules — 9/10Published fee against fund yield — 8/10#3 for JapanJanus Henderson Anemoy Treasury Fund (JTRSY)#4 globallyProvider states broad availability A BVI professional fund open only to non-US professional investors, whose token is prima facie evidence of ownership under BVI law.
Token as the share of record — 8/10Published fee against fund yield — 4/10#4 for JapanBlackRock USD Institutional Digital Liquidity Fund (BUIDL)#6 globallyProvider states broad availability A British Virgin Islands limited company sold under a Section 3(c)(7) private-placement exemption, tokenised across nine networks by Securitize.
Token as the share of record — 6/10Regulator and registration number — 3/10#5 for JapanCircle USYC (Hashnote International Short Duration Yield Fund Ltd)#7 globallyProvider states broad availability A Cayman Islands mutual fund whose shares sit with a transfer agent and are mirrored on chain as ERC-20 digital twins, issued by a Bermuda-regulated Circle entity.
Token as the share of record — 3/10Published fee against fund yield — 3/10
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.
- Insolvency failure: the firm or issuer that owes you cannot pay.Scored by Token as the share of record · 30% (Spiko US T-Bills Money Market Fund (USTBL) 6/10, Fidelity Treasury Digital Fund — OnChain class (FYOXX / FDIT) 3/10, Janus Henderson Anemoy Treasury Fund (JTRSY) 8/10)Scored by Portfolio and liquidity rules · 20% (Spiko US T-Bills Money Market Fund (USTBL) 8/10, Fidelity Treasury Digital Fund — OnChain class (FYOXX / FDIT) 9/10, Janus Henderson Anemoy Treasury Fund (JTRSY) 4/10)
- Regulatory failure: no licence where you are, or a forced market exit.Scored by Regulator and registration number · 28% (Spiko US T-Bills Money Market Fund (USTBL) 10/10, Fidelity Treasury Digital Fund — OnChain class (FYOXX / FDIT) 10/10, Janus Henderson Anemoy Treasury Fund (JTRSY) 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 |
|---|---|---|---|---|
| #1Spiko US T-Bills Money Market Fund (USTBL) | — | — | — | — |
| #2Fidelity Treasury Digital Fund — OnChain class (FYOXX / FDIT) | — | — | — | — |
| #3Janus Henderson Anemoy Treasury Fund (JTRSY) | — | — | — | — |
| #4BlackRock USD Institutional Digital Liquidity Fund (BUIDL) | — | — | — | — |
| #5Circle USYC (Hashnote International Short Duration Yield Fund Ltd) | — | — | — | — |
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 money-market fund legal in Japan?
Yes. Crypto money-market funds 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. Most regulated platforms support at least the first of these. Card payments may incur 2-4% fees vs. ~0.5% for bank transfers.
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.