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Japanese Financial Giant Launches Passive Income Service For SHIB Holders
SBI VC Trade, the cryptocurrency arm of SBI Japan, has introduced a program that allows users to earn passive income on their Shiba Inu (SHIB) and other supported cryptocurrencies.
The program uses “Rent Coin,” a lending service that enables users to lend out their idle cryptocurrency holdings and earn interest during the lending period.
The lending service covers 20 cryptocurrencies, including established players like Bitcoin, Bitcoin Cash, and Litecoin, as well as rising stars like Polkadot, Cardano, Chainlink, Solana, and Avalanche. Seven specific cryptocurrencies were the focus of the initial launch: XRP, Stellar, Dogecoin, Shiba Inu, Bitcoin, Bitcoin Cash, and the DAI stablecoin.
Factors such as the chosen cryptocurrency, the length of the lending period, and the time of application determine interest rates.
(With inputs from Shikha Singh)
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