{"id":170478,"date":"2021-02-04T11:48:31","date_gmt":"2021-02-04T08:48:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/finance-giant-sbi-expands-cryptocurrency-lending-service-to-xrp\/"},"modified":"2021-02-04T11:48:31","modified_gmt":"2021-02-04T08:48:31","slug":"finance-giant-sbi-expands-cryptocurrency-lending-service-to-xrp","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/finance-giant-sbi-expands-cryptocurrency-lending-service-to-xrp\/","title":{"rendered":"# Finance giant SBI expands cryptocurrency lending service to XRP"},"content":{"rendered":"<p>&#8220;<strong># Finance giant SBI expands cryptocurrency lending service to XRP <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNzExZjI3MmItM2U1ZC00MGIyLTkxOTItNDkxOGY4ODE4MTQxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Japanese financial services firm SBI Group has enabled XRP lending through its cryptocurrency-related subsidiary, SBI VC Trade.<\/p>\n<p>According to a Feb. 4 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sbivc.co.jp\/topics\/2021\/02\/04\/02\/\">announcement<\/a>, SBI VC Trade Lending users can now earn interest by depositing their XRP holdings between 1,000 and 100,000 XRP, with the lending period lasting up to 84 days.<\/p>\n<p>\u201cVC Trade Lending is a service that allows customers to rent out their crypto assets to the company and receive interest rewards according to the quantity and duration of the crypto assets,\u201d SBI stated. The annual interest rate for lending XRP amounts to 0.1% with taxes included, the announcement notes.<\/p>\n<p>The XRP interest rate is significantly lower than the rate for lending Bitcoin (BTC) to SBI. The company officially rolled out its crypto lending platform in November 2020, allowing users to earn 1% interest from depositing BTC.<\/p>\n<p>The new listing on SBI\u2019s lending platform comes amid ongoing legal issues for the altcoin. Ripple \u2014 the company behind several products based on XRP \u2014 is now facing a federal lawsuit in the United States for alleged violations of U.S. securities laws by selling unregistered securities. However, the Japanese financial regulator, the Financial Services Agency, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/top-japanese-regulator-does-not-see-xrp-as-a-security\/#:~:text=According%20to%20a%20report%20by,market%20regulator%20told%20the%20publication.\">reportedly<\/a> believes that XRP is not a security.<\/p>\n<p>SBI has emerged as a major Ripple partner, introducing multiple XRP-base products. In October 2020, SBI CEO Yoshitaka Kitao said that Japan is the most likely country for Ripple to move to if the firm is forced 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\">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\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/finance-giant-sbi-expands-cryptocurrency-lending-service-to-xrp\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Finance giant SBI expands cryptocurrency lending service to XRP &#8221; Japanese financial services firm SBI Group has enabled XRP lending through its cryptocurrency-related subsidiary, SBI VC Trade. According to a Feb. 4 announcement, SBI VC Trade Lending users can now earn interest by depositing their XRP holdings between 1,000 and 100,000 XRP, with the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":170479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNzExZjI3MmItM2U1ZC00MGIyLTkxOTItNDkxOGY4ODE4MTQxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74860,77595,75034,75118,117,20618],"class_list":["post-170478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-lending","tag-ripple","tag-sbi","tag-business","tag-japan"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/170478","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=170478"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/170478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/170479"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=170478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=170478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=170478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}