Key Notes
- SBI VC Group is expanding its footprints in the crypto ecosystem through SBI VC Trade.
- The crypto arm has unveiled a new lending offering for investors.
- The firm now supports BTC, BCH, and XRP, among other assets, for the new product.
SBI Group of Japan, through its subsidiary SBI VC Trade, has announced that its digital assets lending service is now available to customers.
Notably, the announcement was disclosed in a post on X, emphasizing the group’s concerted efforts to increase its role in electronic financial services.
How the SBI VC Trade Lending Service Works
It is worth mentioning that the lending service allows users to deposit their cryptocurrencies with SBI VC Trade for a set period. In return, they will receive interest based on the specific cryptocurrency they lend and the duration of the lending agreement.
For example, if a user lends Bitcoin BTC $80 418 24h volatility: 6.9% Market cap: $1.59 T Vol. 24h: $85.54 B , XRP $2.03 24h volatility: 9.4% Market cap: $117.41 B Vol. 24h: $6.89 B , ETH $2 116 24h volatility: 10.0% Market cap: $254.67 B Vol. 24h: $37.30 B , or Shiba Inu SHIB $0.000013 24h volatility: 10.3% Market cap: $7.77 B Vol. 24h: $338.33 M , their earnings will depend on how long they choose to lend, and the interest rate attached to that particular asset. The list of assets supported by the SBI Group in this product also includes Bitcoin Cash BCH $281.6 24h volatility: 6.6% Market cap: $5.57 B Vol. 24h: $394.37 M , Chainlink LINK $13.77 24h volatility: 11.9% Market cap: $8.76 B Vol. 24h: $748.65 M , and [NC].
Polkadot DOT $4.54 24h volatility: 10.5% Market cap: $6.89 B Vol. 24h: $420.27 M currently grants users access to one of the highest returns, with an annual interest rate of 20% among the supported cryptocurrencies. This makes it an attractive option for investors looking to maximize their earnings through crypto lending.
For context, SBI VC Trade launched its lending service in November 2020, starting with fewer cryptocurrencies. By 2021, XRP was added to the platform, and the group has actively worked towards increasing and making its services more profitable and efficient.
Still, this latest growth came when Japan introduced clearer engagement rules for the digital assets industry.
The country’s regulatory agencies believe if these policies are duly adhered to, they will create a safer and more structured environment for different organizations operating in the crypto space. It will also help retail traders benefit more in the digital economy.
Why More Investors Are Turning to Crypto Lending
Now, it is important to state that this new development is not peculiar to the SBI group alone. Several other businesses have been exploring this option in their drive to tap into the growing crypto ecosystem. One of their key points is that traditional investors’ participation in the industry often requires constant market monitoring and active trading.
However, crypto lending is considered a better and more efficient option. This is because it forms an alternative where users can earn passive income without managing their assets daily.
Similarly, most crypto lending services are designed to be simple and accessible, making it suitable for both experienced crypto investors and beginners. Unlike conventional trading, it does require specialized knowledge or continuous market analysis.
In related news, earlier this month, crypto custody firm Copper announced the launch of a new blockchain-based agency lending platform designed to enhance transparency, improve risk management, and speed up settlements in the crypto lending market.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
