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).  
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