SBI VC Commerce, a cryptocurrency alternate arm of Japanese monetary large SBI Holdings, has introduced a lending marketing campaign for the Shiba Inu (SHIB) meme cryptocurrency.
The annual rate of interest for lending the second-biggest meme coin quantities to 1.5%.
The appliance deadline has been set for Aug. 1. The lending interval will final till Aug. 29.
The rate of interest provided for the SHIB meme coin is considerably larger in comparison with such cryptocurrencies as Chainlink (LINK) and Litecoin (LTC). The annual fee for these cryptocurrencies quantities to 0.5%. On the similar time, SBI VC Commerce provides a minuscule 0.1% fee for many who lend the Ripple-affiliated XRP cryptocurrency.
The lending service, which is known as VC Commerce Lending, was launched again in November 2020. Following its launch, the service initially supported solely Bitcoin, the main cryptocurrency. Nevertheless, it then went on to increase the record of cryptocurrencies which are obtainable for lending with Ethereum (ETH) and different altcoins.
Shiba Inu, which gained prominence throughout the 2021 bull run, has a moderately sturdy presence in Japan with a vibrant group.
After BitPoint turned the primary Japanese digital asset buying and selling platform to record SHIB, a number of different main buying and selling platforms threw their assist behind the token. SBI VC Commerce, as an example, listed SHIB again in June 2023.
As reported by U.At the moment, Tokyo-based platform Coincheck additionally added assist for the second-biggest cryptocurrency final December.
In keeping with CoinGecko knowledge, the meme cryptocurrency is at the moment valued at $11 billion, which makes it the thirteenth largest digital asset.