Bitcoin
$62,464.02-6.23%
Ethereum
$3,044.55-6.80%
Binance Coin
$540.63-7.66%
Solana
$132.66-13.78%
XRP
$0.48753983-6.06%
Dogecoin
$0.15413271-6.92%
Toncoin
$6.11-14.11%
Cardano
$0.46010241-6.71%
Avalanche
$34.70-8.97%
Shiba Inu
$0.00002193-7.21%
Tron
$0.11115555-3.60%
Wrapped Bitcoin
$61,123.70-8.48%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
04
DAYS
08
HR
54
MIN
14
SEC
Markets

Leading Japanese Financial Firm SBI Holdings Rolls Out Crypto Lending Services

A subsidiary of SBI Holdings said it's launched a service allowing users to ‘lend’ bitcoin to the firm and earn an interest at the rate of 1% annually in return.

By Jaspreet Kalra
AccessTimeIconNov 24, 2020 at 8:22 p.m. UTC
Updated Sep 14, 2021 at 10:34 a.m. UTC
SBI Holdings

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

A subsidiary of major Japanese financial services firm SBI Holdings has launched ‘crypto lending’ services that will allow users to deposit bitcoin (BTC) and earn interest. 

Announced on Tuesday, the “VC Trade Lending” service will let users deposit their bitcoin with SBI VC Trade and earn interest at a rate of 1% annually, with taxes accounted for. 

  • According to the announcement,  the minimum and maximum amount of bitcoin users can deposit is 0.1 BTC and 5.0 BTC respectively. 
  • The announcement also said the firm will charge no account management fees or membership fees for the service. 
  • While the service is being kicked off with bitcoin, the firm said it plans on expanding it to other cryptocurrencies including XRP and ether (ETH).  

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.