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SBI Group Announces Crypto Lending Applications for XRP and Other Cryptocurrencies
In a recent development, the Japan-based financial giant SBI Holdings has announced the launch of crypto lending applications for various cryptocurrencies, including XRP. This move comes as no surprise, given the group’s long-standing involvement in the blockchain space.
Initially, the crypto lending service will be available for XRP, but the company is also looking to expand its offerings to include other digital assets. Notably, SBI VC Trade has already started offering XRP lending, with a 20% interest rate.
SBI Holdings has been a significant player in the fintech space and has made headlines by partnering with Ripple on various initiatives. This new development highlights the company’s commitment to exploring opportunities within the cryptocurrency market.
As reported earlier, SBI Holdings had initially entered the crypto lending space back in November 2020 and since then, they have gradually expanded their offerings to include more cryptocurrencies.
It is essential to note that the interest rates for each cryptocurrency will vary. For instance, the specific rate offered by SBI VC Trade for Polkadot (DOT) stands at a staggering 20%.
Source: https://u.today/sbi-group-announces-crypto-lending-applications-for-xrp-and-other-cryptocurrencies
