A subsidiary of Japan-based financial services company SBI Holdings said Thursday it will allow customers to lend the XRP cryptocurrency in return for interest.
- The minimum loan amount is 1,000 XRP (around $389 at time of writing) and the maximum 100,000 XRP ($38,900). Interest, described as a "usage fee," is a fairly meager 0.1% per annum, including tax.
- SBI VC Trade was launched in 2018 and focused initially on the trading of XRP. SBI has a business relationship with Ripple, the blockchain payments firm closely associated with XRP.
- XRP saw its value fall after the U.S. Securities and Exchange Commission took Ripple to court in late December alleging the firm broke securities laws with retail sales of the cryptocurrency.
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