SBI VC Trade, a subsidiary of the Japanese financial conglomerate SBI Holdings, объявила the launch of a cryptocurrency-lending service.
The VC Trade Lending service will generate profits by lending to other users. The annual yield is 1% after tax.
Loans for Bitcoin contracts are issued for 84 days. The minimum loan amount is 0.1 BTC ($1,840), maximum 5 BTC ($92,000).
In the initial phase, the service will operate only with Bitcoin. Later SBI VC Trade will add Ethereum, XRP and other coins, and expand lending periods.
In October, the fintech startup Ripple stated plans to invest an undisclosed amount in SBI Holdings’ subsidiary — operator of the MoneyTap payment app built on RippleNet.
In the same month, another subsidiary of the Japanese conglomerate – SBI e-Sports announced a tokenized-share offering.
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