{"id":278072,"date":"2020-11-24T09:21:52","date_gmt":"2020-11-24T14:21:52","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=278072"},"modified":"2021-08-10T06:48:13","modified_gmt":"2021-08-10T10:48:13","slug":"sbi-holdings-expands-crypto-offerings-with-lending-platform","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sbi-holdings-expands-crypto-offerings-with-lending-platform","title":{"rendered":"SBI Holdings Expands Crypto Offerings with Lending Platform"},"content":{"rendered":"

Japanese financial services firm SBI Holdings has been active in the cryptocurrency space this year, inking partnerships and launching new products. <\/span>Its latest foray is into the cryptocurrency lending business.<\/span><\/p>\n

Short-Term Lending Now Possible<\/b><\/h2>\n

Earlier this week, SBI Holdings\u00a0<\/span>announced<\/span><\/a> the launch of VC Trade Lending, a new lending platform for Bitcoin. The announcement explained that users would be able to lend their crypto tokens to the firm. In return, they earn one percent in non-taxable returns.<\/span><\/p>\n

The product will be handled by SBI\u2019s crypto subsidiary, SBI VC Trade. SBI confirmed that it would initially support Bitcoin, although it will bring compatibility with Ether and XRP in the future. Customers have a minimum lending amount of 0.1 BTC ($1,863) and a maximum of 5 BTC ($93,210).<\/span><\/p>\n

The financial services giant has also assured users that the tool will only charge fees for yen withdrawals. There would be no fees for deposits in yen or crypto, and the tool won\u2019t take any membership or account management fees. It is unclear whether users will be able to make deposits in any other fiat currency.<\/span><\/p>\n

SBI On a Roll\u00a0<\/b><\/h2>\n

SBI has been active in the crypto space this year. The company began with a partnership with Ripple Labs that allowed the former to pay its shareholders in XRP. <\/span><\/p>\n

As Coinpost\u00a0<\/span>reported<\/span><\/a>\u00a0in January, SBI inked the deal to offer shareholders up to 8,000 yen in benefits. <\/span>The agreement was solidified as far back as 2016, although shareholders would need to own at least 100 of the company\u2019s shares to qualify.<\/span><\/p>\n

Now, the Japanese firm appears fixated on ending 2020 just as strongly as it began. Over the past few months, the company has been digging deeper into the crypto space, taking up more market share and capitalizing on the industry\u2019s resurgence.<\/span><\/p>\n

In September, Nikkei\u00a0<\/span>reported<\/span><\/a>\u00a0that SBI Holdings planned to set up a blockchain-based stock exchange in Osaka and Kobe. <\/span><\/p>\n

Yoshitaka Kitao, president and CEO at SBI Holdings, announced the plans at an event. He explained that they would partner with the Osaka Prefecture, to establish a fledgling financial hub in the region.<\/span><\/p>\n

As the report added, SBI plans to attract Fintech companies worldwide and contribute to the region\u2019s financial development. Kitao reportedly emphasized that this could be Osaka\u2019s last chance to \u201cgain the status of an international financial center.\u201d He also argued that the development would create employment and improve Osaka\u2019s economy.\u00a0\u00a0<\/span><\/p>\n

The company also took a bold step last month with the acquisition of TaoTao exchange. The acquisition will see TaoTao join SBI Liquidity Market, the financial service giant\u2019s derivatives and foreign exchange arm, per an official announcement.\u00a0\u00a0<\/span><\/p>\n

Taotao was previously owned by Yahoo! Japan, and it launched a crypto trading service last May. As SBI explained, the acquisition will improve their expertise and ability to provide crypto services.<\/span><\/p>\n

\u201cIn the future, we will make maximum use of the management resources such as knowledge of the SBI Group as a comprehensive financial group, as well as the customer base and service expertise of the crypto assets that TaoTao has cultivated so far,\u201d the release highlighted.<\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Japanese financial services firm SBI Holdings has been active in the cryptocurrency space this year, inking partnerships and launching new products. Its latest foray is […]<\/a><\/div>","protected":false},"author":1770,"featured_media":276463,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[5846,10145,7838],"class_list":["post-278072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-ripple-labs","tag-sbi","tag-taotao"],"acf":[],"yoast_head":"\nSBI Holdings Expands Crypto Offerings with Lending Platform - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Japanese financial services firm SBI Holdings announced the launch of VC Trade Lending, a new lending platform for Bitcoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/278072\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBI Holdings Expands Crypto Offerings with Lending Platform\" \/>\n<meta property=\"og:description\" content=\"Japanese financial services firm SBI Holdings announced the launch of VC Trade Lending, a new lending platform for Bitcoin.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-24T14:21:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-10T10:48:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/10\/sbi-holdings.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1977\" \/>\n\t<meta property=\"og:image:height\" content=\"1112\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jimmy Aki\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@adejimi\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jimmy Aki\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/278072#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/278072\"},\"author\":{\"name\":\"Jimmy Aki\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/a66ff7827d8bed054aa6be4e9d8c1dad\"},\"headline\":\"SBI Holdings Expands Crypto Offerings with Lending Platform\",\"datePublished\":\"2020-11-24T14:21:52+00:00\",\"dateModified\":\"2021-08-10T10:48:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/278072\"},\"wordCount\":522,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/278072#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/10\/sbi-holdings.jpg\",\"keywords\":[\"ripple labs\",\"SBI\",\"TaoTao\"],\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/278072#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/278072\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/278072\",\"name\":\"SBI Holdings Expands Crypto Offerings with Lending Platform - 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