SBI VC Trade Launches Coin-Lending Drive for XRP & Top Cryptos

• SBI VC Trade invites Japanese crypto holders to lend XRP and other assets for profit.
• The program caters to long-term holders, offering rental fees based on tokens and duration, with a 0.1% tax.
• SBI’s Chairman is optimistic about XRP’s profitability amid legal proceedings.

SBI VC Trade, a key player in cryptocurrency lending under the SBI Group, invites Japanese crypto holders to leverage their assets, including XRP and four other leading tokens, through a coin-lending drive for profitable returns.

Tailored to suit long-term crypto holders, the initiative encourages them to lend their digital reserves for the possibility of significant returns. Serving as the lending facilitator, SBI VC Trade aims to reward participants with rental fees dependent on the lent tokens and the duration of the lending period.

While SBI VC Trade offers lending services for over 18 cryptocurrencies, the current recruitment campaign spotlights five major assets: XRP, Bitcoin (BTC), Dogecoin (DOGE), Stellar (XLM), and stablecoin DAI. The application process will commence on August 17 at 8:00 PM Japan Time and run until August 31. Successful participants can engage in the lending service until September 28.

It’s important to note that a nominal 0.1% tax will be applied to all lendable digital assets, ensuring transparency throughout the process. This isn’t the first time SBI VC Trade has shown support for XRP; previous campaigns underscore the platform’s commitment to cryptocurrency.

SBI’s Chairman, Yoshitaka Kitao, has expressed optimism regarding XRP’s potential profitability, especially in relation to the ongoing legal proceedings. As SBI VC Trade launches this initiative, it not only reaffirms its dedication to the crypto ecosystem but also provides participants with the potential for gains.