SBI VC Trade launches Shiba Inu Coin loan program
SBI VC Trade, a cryptocurrency trading platform owned by Japanese financial giant SBI Holdings, recently announced the launch of loan services for Shiba Inu Coin ($SHIB). This new program aims to provide investors who hold Shiba Inu coins with loan services at an annual interest rate of 1.25%, which is much higher than the 0.5% annual interest rate of Chainlink ($LINK) and Litecoin ($LTC), and even higher than Ripple ( $XRP) is even more attractive with an annual interest rate of 0.1%.
Source: SBI VC Trade Cryptocurrency loan services currently provided by SBI VC Trade
The application deadline for this loan program is August 1, and the loan period will last until August 29. Since its launch in November 2020, SBI VC Trade's VC Trade Lending service has continued to expand the types of cryptocurrencies supported by its loans, starting from initially supporting only Bitcoin and gradually adding Ethereum and other altcoins. Shiba Inu Coin’s rise during the 2021 bull market and strong community support in Japan made it an important target for this loan program.
The Rise of Shiba Inu Coin and Acceptance in the Japanese Market
The popularity of Shiba Inu coins in Japan cannot be underestimated. Since BitPoint became the first digital asset trading platform to list Shiba Inu Coin in Japan, many major trading platforms have followed suit, and SBI VC Trade also listed Shiba Inu Coin in June 2023. According to CoinGecko data, Shiba Inu Coin currently has a market value of approximately US$10.658 billion, ranking 14th largest digital asset.
Source: CoinGecko Shiba Inu Coin ($SHIB) currency price chart
This loan program is not only a financial service for Shiba Inu Coin holders, but also represents a big step for meme-based cryptocurrencies to enter the mainstream financial system. The launch of this loan service shows SBI VC Trade’s confidence in the future potential of Shiba Inu Coin and also reflects the evolving diversification trend of the cryptocurrency market.
Impact on the Cryptocurrency Market
SBI VC Trade’s loan plan has a profound impact on the cryptocurrency market. First, it shows that memecoins are no longer just a speculative asset, but an investment vehicle that can provide returns to an investment portfolio through a lending mechanism. The difference in interest rates between different cryptocurrencies reflects the maturity and segmentation of the cryptocurrency loan market.
In addition, the support of large trading platforms not only increases Shiba Inu Coin’s credibility and popularity, but also enhances its liquidity and accessibility. Together, these measures promote the innovative and inclusive development of the cryptocurrency ecosystem and provide investors with more ways to add value.
Source: SBI VC Trade SBI VC Trade currently supports 23 cryptocurrencies for lending services
The announcement of SBI VC Trade’s lending program represents a new chapter in the cryptocurrency lending narrative, one in which Shiba Inu Coin plays a major role. This move shows that meme coins are finding their place in investment strategies, led by a vibrant community and growing industry acceptance. This loan model not only provides attractive interest rates for currency holders, but also enriches the structure of the cryptocurrency market, closely connecting the traditional financial structure with the digital asset world.
This move by SBI VC Trade demonstrates a combination of financial acumen and forward-thinking strategy to transform Shiba Inu Coin from its speculative origins into a viable asset. This change is a reflection of the continuous evolution of the digital asset industry, which continues to bring surprises, adaptations and revolutions to the financial world as we know it.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
