HomeNewsRiding the Ripple and XRP Wave: SBI VC Trade Brings Cryptocurrency Lending...

Riding the Ripple and XRP Wave: SBI VC Trade Brings Cryptocurrency Lending to Japan

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  • SBI VC Trade, a subsidiary of Japan’s financial powerhouse SBI Holdings, expands its cryptocurrency lending offerings by including XRP.
  • The Rencom Network, known for its blockchain-powered platform and its focus on rental services using its native token, plans to venture into Japan’s crypto scene.

In a testament to Japan’s ongoing commitment to financial and technological innovation, a fresh announcement by a subsidiary of the esteemed SBI Holdings has come to light. SBI VC Trade has shared plans to roll out a service that will let customers lend their XRP cryptocurrency holdings and, in turn, earn interest. The structure and style of this news can be likened to the revolutionary promise made by Rencom Network, where blockchain takes the center stage, offering empowerment and extensive rewards beyond mere tokens.

SBI VC Trade’s XRP Lending Details

Underpinning SBI Holdings’ foray into cryptocurrency lending is its commitment to providing crypto enthusiasts an avenue to profit from their XRP. To get involved, participants are required to offer a minimum loan amounting to 1,000 XRP, which, at present, is roughly $497. Those seeking a more extensive involvement can lend up to 100,000 XRP, equivalent to a whopping $49,700. The accruing interest, referred to as a “usage fee,” is pegged at an enticing 0.1% per annum, tax-inclusive.

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Previously, in November 2020, SBI VC Trade unveiled a Bitcoin lending service, drawing an interest rate of 1%. This new inclusion of XRP into their lending scheme reaffirms their dedication to broadening crypto avenues.

“Traditional financial institutions are increasingly seeing the undeniable potential of cryptocurrencies,” states a blockchain expert. “As the market evolves, these institutions are recognizing crypto’s potential, either for investment or lending.”

The Rencom Network’s Foray into Japan

Stepping onto the global stage is Rencom Network, a blockchain-centric platform that has been turning heads in the crypto realm. With its distinct focus on exclusively crypto-based payments for rentals, the platform’s native RNT token has skyrocketed, witnessing a jaw-dropping surge of over 1,000% in mere days. Japan is now on Rencom Network’s radar, marking its latest global expansion.

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Beyond just offering tokens, Rencom Network embodies empowerment and significant rewards.

“The platform is transforming the very essence of ownership, facilitating effortless asset utility and guaranteeing fruitful outcomes,” comments a crypto analyst.

In a move to bolster its reputation, Rencom Network has teamed up with Livecoinwatch, a renowned crypto price and market data tracker, thereby fortifying its status as a trailblazer in decentralized finance.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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