SBI Rolls Out Bitcoin Lending Service, Plans To Add Support For Ethereum And XRP

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SBI Rolls Out Bitcoin Lending Service, Plans To Add Support For Ethereum And XRP
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The crypto-assets company SBI VC Trade has announced the commencement of its cryptocurrency lending service set to start today, November 24th, 2020.

The company, popularly called the Japanese financial giant continues to make new developments, consequently gaining massive recognition in the crypto industry.

The new service added to the company’s services dubbed ‘VC TRADE LENDING’ will allow customers who lend their crypto assets to the company to receive usage fees on the crypto loan granted.

Meanwhile, the usage fee offered to a customer will be determined by the quantity and period the loan persists. Hence, serving as a means of profit for customers while the company holds their assets for a given period.

Per the announcement made by SBI VC Trade, further elaboration on what the VC TRADE LENDING service entails was provided.

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“VC TRADE LENDING” is a service that allows customers to rent out their cryptocurrency assets to us and receive usage fees according to the quantity and period of cryptocurrency assets.” The company explained.

VCTRADE LENDING Assures Higher Reliability

Among the qualities promised on VC Trade Lending is the feature of higher reliability. Since the uncertainty of bankruptcy is one of the risks cryptocurrency lenders tend to envision, the company assures that customers can use them with confidence as all of the customers’ lending destinations for the “VCTRADE LENDING” are SBI Group companies which boast high dependability.

Through the new development, the company also promised to provide optimal trading opportunities to customers.

“We will provide more trading opportunities by formulating appropriate products that match the market based on the know-how and abundant achievements of the SBI Group.” They said.

SBI VC Trade concluded the announcement by revealing its future plans to expand the services by adding cryptocurrencies like XRP, ETH, and the likes. The “VC TRADE LENDING” service only supports Bitcoin at the time of writing.

The company further unveiled its intention to add various types of lending periods to the services.