Leading Japanese Financial Firm SBI Holdings Rolls Out Crypto Lending Services

A subsidiary of SBI Holdings said it's launched a service allowing users to ‘lend’ bitcoin to the firm and earn an interest at the rate of 1% annually in return.

Nov 24, 2020, 8:22 PM

Updated Aug 19, 2021, 5:50 AM

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A subsidiary of major Japanese financial services firm SBI Holdings has launched ‘crypto lending’ services that will allow users to deposit bitcoin (BTC) and earn interest.

Announced on Tuesday, the “VC Trade Lending” service will let users deposit their bitcoin with SBI VC Trade and earn interest at a rate of 1% annually, with taxes accounted for.

According to the announcement, the minimum and maximum amount of bitcoin users can deposit is 0.1 BTC and 5.0 BTC respectively.
The announcement also said the firm will charge no account management fees or membership fees for the service.
While the service is being kicked off with bitcoin, the firm said it plans on expanding it to other cryptocurrencies including XRP and ether (ETH).

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