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Home Crypto News Market Japan's Financial Giant SBI Started XRP Lending Services

Japan’s Financial Giant SBI Started XRP Lending Services

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Japan’s financial giant SBI Group has started offering lending services through XRP. SBI VC Trade users will earn passive income through the XRP they will invest in the company.

SBI Group, which backed Ripple in the SEC lawsuit, has opened up a new scope of use to XRP owners. XRP users will be able to invest in the company and earn interest on XRP.

Limit up to 100 thousand XRP

According to a press release published on February 4, users will be able to deposit up to 100 thousand XRP. SBI announced the minimum lending amount at 1,000 XRP. Users will be able to use the lending service for 84 days.


VC Trade, which is affiliated with SBI Group, launched lending transactions on Bitcoin in November last year. Founded in 2016, VC Trade aims to grow lending services through XRP.

SBI backs Ripple in SEC case

SBI Group has sent several support messages to Ripple, who is accused of selling unregistered securities by the SEC. Explaining that XRP is not considered security in Japan, SBI Group defended its partner against this policy, which the SEC followed.

FTX US

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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