Japanese giant SBI Group is set to include Ripple into a cryptocurrency lending service through its subsidiary VC Trade.

The news of the new listing announced, came at a time when the digital currency is going through difficult circumstances, especially in light of the lawsuit filed by the SEC against Ripple.

Adding XRP to Bitcoin and Ethereum Lending List:

announced Japanese group “SBI” announced that it will include the digital currency XRP in the list of lending services.

The company, which began lending endeavors in November 2020, will provide customers with the service through its subsidiary, SBI VC Trade.

Apart from the other options that the group already offers of the possibility of loaning Bitcoin and Ethereum and earning interest through them, “SBI” group added the possibility of depositing XRP also to earn interest.

Read:One of the largest banks in Spain officially begins trading Ethereum and providing cryptocurrency custody services

According to the announcement, holders of the fourth largest cryptocurrency can deposit XRP to earn interest, the amounts that customers can deposit range from 1,000 to 100,000 XRP, while the lending period will be 84 days.

SBI affiliate VC Trade launched its Ripple lending endeavor in November 2020.

Initially, the company only supported bitcoin.

At the time, SBI said customer deposits could range from 0.1 BTC to a minimum of 5 BTC.

After lending their Bitcoin holdings on the platform, customers are supposed to receive a 1% interest rate with taxes included.

In addition, the SBI indicated that commercial lending to venture capital will only charge fees for withdrawals in Japanese yen.

The group also noted that crypto and yen deposits, as well as account management or annual membership, will not be subject to fees.

SBI Group is among the few who have not turned their back on Ripple and its cryptocurrency, XRP, after the lawsuit announced by the US Securities and Exchange Commission (SEC).

The “SBI” group and more diving into crypto services:

The “SBI” group has been very strong in implementing projects related in one way or another to cryptocurrency.

Read:Binance is preparing to launch its decentralized platform and expand to the Singapore market

Over the past two years, the company has shown a clear interest in the cryptocurrency environment, and has launched several attempts to support it.

In December 2019, SBI Group launched a cryptocurrency exchange platform both experimentally and internally, which has gone through some delays in previous years.

In addition, the holding company was able to implement another large crypto project.

In December 2020, the company completed the acquisition of a UK-based crypto liquidity provider, B2C2.

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