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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.
Updated Sep 14, 2021, 10:34 a.m. Published Nov 24, 2020, 8:22 p.m.
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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 and earn interest.
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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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