The Japanese financial firm, SBI Holdings, is preparing everything to offer its users a loan service with crypto-currency.
More and more companies all over the world are starting to get involved in the cryptomoney market. In recent years, virtual currencies such as Bitcoin have managed to leave behind their reputation as purely speculative assets. To begin to be recognized as first class financial products by traditional financial firms. A sign of this is the news that the Japanese firm SBI will launch loans in cryptomon currencies.
Traditional firms and crypto-currencies
The relationship between traditional financial firms and crypto-currencies has always been tense. For many years, large investment firms around the world have evaluated Bitcoin as a potential investment of their capital. Concluding in most cases that the cryptomoney is nothing more than a speculative asset with no real value.
This is the position even today held by world-class firms such as Goldman Sachs. These firms advise their clients against acquiring cryptomoney due to the sudden changes that its price may undergo. And which can be potentially disastrous for investors.
However, this attitude has been changing rapidly in recent years. As Bitcoin and other cryptomonies have demonstrated their intrinsic value, both in their role as an active reserve of value and with other services offered by the Blockchain technology, and which allow an expansion of the financial market.
Because of this, large traditional financial companies have recently decided to invest in Bitcoin. Doing it either directly, acquiring and safeguarding their own Bitcoin. As well as through companies like Grayscale, which for a small fee, take care of the process of buying and storing the cryptomoney.
Japanese firm SBI joins the game
So it should come as no surprise that one of the most important financial firms in Japan and the world, such as SBI Holdings, wants to enter the world of cryptology. To this end, it is preparing to launch its own crypto loan service, which will allow its users to deposit BTCs and earn interest in return.
Thus, users will be able to deposit and withdraw a minimum of 0.1 BTC in this service and a maximum of 5 BTC. And the whole process will be carried out through the „VC Lending“ platform, through which users can access to make their deposits in SBI VC Trade.
Initially, the Japanese firm SBI Holdings will launch its platform only for Bitcoin. However, SBI is planning to expand the service to accept XRP and Ethereum in the medium term. This would definitively integrate it into the crypto market, and send a signal to the financial market, by showing the confidence that big firms like SBI have in cryptomoney.