SBI Holdings Announced Launching XRP Lending

by in Cryptocurrency News

SBI Holdings Launches XRP lending

Tokyo-based financial company SBI Holdings, which is also an old partner of Ripple, announced XRP lending service. The service would be launched by SBI VC Trade, the group's subsidiary. Using it, XRP holders will be able to receive interest by making deposits. The amount can vary between 1,000 to 100,000 tokens. The lending interval will last 84 days.

Related: XRP futures market went through a cascade of liquidations

SBI released the lending service in November 2020 with BTC. When the news about the SEC filing a lawsuit against Ripple Net became known, the company supported its partner completely, saying that it didn't consider XRP as a security. By the way, XRP is only the second asset integrated into the lending service's list. The platform provides a 1% interest rate on Bitcoin lending, while the XRP interest rate is set 1/10th of that.

Ripple Net is in the trial process in the USA. XRP community has been trying to increase the cryptocurrency's value over the previous few days. On February 1, a group of 295,000 Telegram users managed to push the price over 50% within 10 hours. The price went up to $0.7282, but the market could not support it, and a collapse happened.

Now XRP trades at around $0.389.