{"id":118953,"date":"2020-11-24T11:03:14","date_gmt":"2020-11-24T08:03:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/japanese-financial-giant-sbi-debuts-bitcoin-lending-service\/"},"modified":"2020-11-24T11:03:14","modified_gmt":"2020-11-24T08:03:14","slug":"japanese-financial-giant-sbi-debuts-bitcoin-lending-service","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/japanese-financial-giant-sbi-debuts-bitcoin-lending-service\/","title":{"rendered":"# Japanese financial giant SBI debuts Bitcoin lending service"},"content":{"rendered":"<p>&#8220;<strong># Japanese financial giant SBI debuts Bitcoin lending service <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTEvNzA3ZjAxYmYtMDEyYy00MGY4LTg0OWUtZjRlNzg1ZGM1ZjNlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Japanese financial giant SBI Group is introducing a cryptocurrency lending service through its crypto-related subsidiary, SBI VC Trade.<\/p>\n<p>According to an official <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"http:\/\/www.sbigroup.co.jp\/news\/pr\/2020\/1124_12216.html\">announcement<\/a> on Nov. 24, the new crypto lending platform will allow users to lend their crypto to SBI and earn interest at a rate of 1% with taxes included.<\/p>\n<p>The new service, dubbed VC Trade Lending, will initially support the major cryptocurrency Bitcoin (BTC), with SBI further planning to add support for Ether (ETH) and XRP. The minimum lending amount is 0.1 BTC, or $1,840 at publishing time, while the maximum amount is c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed at 5 BTC, or $92,000.<\/p>\n<p>SBI said that VC Trade Lending will have no account management fees or annual membership fees. The service will also not charge any fees for deposits made in Japanese yen or crypto, but still charges a fee for yen withdrawals.<\/p>\n<p>SBI is a major financial institution in Japan involved in the crypto industry. In early October 2020, SBI\u2019s foreign exchange and derivatives arm SBI Liquidity Market acquired TaoTao, a crypto exchange formerly 40% owned by Yahoo Japan\u2019s YJFX. The firm is also running its own crypto business through its subsidiary SBI VC Trade.\u00a0<\/p>\n<p>SBI is also a major partner of Ripple, a company that builds financial products on XRP, the fourth biggest crypto by market capitalization at publishing time. In late October 2020, SBI CEO Yoshitaka Kitao claimed that Ripple will most likely relocate to Japan\u00a0should it choose to leave the United States.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/japanese-financial-giant-sbi-debuts-bitcoin-lending-service\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Japanese financial giant SBI debuts Bitcoin lending service &#8221; Japanese financial giant SBI Group is introducing a cryptocurrency lending service through its crypto-related subsidiary, SBI VC Trade. According to an official announcement on Nov. 24, the new crypto lending platform will allow users to lend their crypto to SBI and earn interest at a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":118954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/707f01bf-012c-40f8-849e-f4e785dc5f3e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,77595,75118,75557,71939,20618,4965],"class_list":["post-118953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-lending","tag-sbi","tag-xrp","tag-banks","tag-japan","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/118953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=118953"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/118953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/118954"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=118953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=118953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=118953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}