SBI Holdings offers bitcoin lending, starting as low as 0.1BTC
A leading Japanese financial group, SBI Holdings, has entered the crypto lending service. The clients will be able to lend their digital assets to the bank. In return they will be paid an annual interest rate of 1%.
The service will be available on SBI Trade Lending platform. Initially, it will support only BTC with Ethereum and XRP expected to be added later. The users can enter the program with as low as 0.1 BTC, and maximum 5 BTC.
SBI noted that the company will not charge a deposit fee, account management fee, or annual membership fee. However, a small fee will be added on withdrawals in Japanese Yen.
SBI is a key partner of Ripple blockchain startup, offering financial products based on its XRP token. Both recently invested in its joint venture, MoneyTap. And should Ripple leave the United States, it will likely settle in Japan, according to Yoshitaka Kitao, CEO of SBI.