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There appears to be no end in sight for the bullish crypto for longtime Japanese Ripple partner and financial services provider SBI – with the company SBI VC Trade This week, the cryptocurrency exchange announces the launch of the cryptocurrency lending service, with plans to begin allowing XRP holders to lend their tokens to the exchange.
According to a press release, the company said it would initially only offer bitcoin (BTC) loans, but – being SBI – the company quickly added that XRP services would soon be online as well, as would ethereum (ETH) loans. .
Clients can lend a maximum of 5 BTC (96,790 USD) and no less than 0.1 BTC and will not have to pay account management fees, although those who make fiat withdrawals will have to pay a fee.
SBI appears to have gone all-in on cryptocurrencies in 2020, with token-related activity at the financial giant now at a peak. Last month, the company engulfed a direct internal rival by buying it Yahoo Japanparticipation in TaoTao cryptocurrency exchange.
The firm also bought a minority stake in the UK liquidity provider B2C2 for $ 30 million in July. It followed last month with the announcement that it will launch an unlisted securities fund with the Swiss crypto bank To sing, with the aim of attracting European and Asian investors.
The latest move will once again cement SBI and Ripple’s watertight bond, strengthened earlier this month when SBI’s SBI-sponsored eSports subsidiary VC Trade added a third batch of pro players to its roster – with every single player on his team list who agrees to receive their annual salary in XRP.
At pixel time (10:36 UTC), XRP is trading at $ 0.69 and is up nearly 13% in one day and 134% in one week. It grew 166% in one month and 209% in one year.
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To know more:
Interest in XRP has been the highest in the past two years as the price is on a roller coaster
Ripple seeks new hires to strengthen XRP and CBDC ties
Nexo launches new services, focuses on decentralization to become a bank
