SBI Group Announces That Users Will Lend Their Crypto to SBI VC Trade

SBI VC Trade

SBI VC Trade Co., Ltd. CEO: Yoshitaka Kitao, has started the cryptocurrency rental asset “VCTRADE LENDING” service. By lending the cryptocurrency assets owned by the customer to us, you can receive the usage fee according to the quantity and period of lending. 

There are no account management fees, annual membership fees, Japanese yen deposit fees, or cryptocurrency receipt / delivery fees. However, a fee will be charged for withdrawal of Japanese Yen.

Cryptocurrency assets may suffer losses due to price fluctuations. The price of crypto assets may fluctuate or fall sharply and become zero due to the effects of changes in the supply-demand balance, trends in legal tender and financial instruments markets, and other unexpected events. Cryptocurrency assets can be used for payment of payment only with the consent of the person who receives the payment.

The new assistance, called VC Trade Lending, will at first help bitcoin and later Ether and XRP. The base loaning sum is 0.1 BTC ($1,890 at the hour of distribution) and the greatest is set at five bitcoin ($90,450). 

VC Trade Lending won’t force any record the executives expenses or yearly participation expenses, or charge any charges for stores made in Japanese yen or crypto yet will charge a fee for yen withdrawals. 

SBI is a significant accomplice of Ripple, the organization behind XRP, the fourth-biggest crypto by market capitalization. Ripple is purportedly considering moving from the United States to Japan, which is viewed as a more crypto-accommodating purview.

To help institutional customers, the firm will use its organization in Switzerland and Europe, while SBI will do likewise in the Asian commercial center.

“This important partnership with SBI Digital Asset Holdings … builds on our Zurich-based exchange and CSD and will allow us to provide services into the Asian market as well as open up the trading channel between Europe and APAC,” said Tim Grant, head of the SIX Digital Exchange.

Get the latest in Asian Bitcoin news here at Coin News Asia.