Japan’s SBI VC Trade Floats Residual Income for Shiba Inu

The popular trading platform, SBI VC Trade, the crypto branch of SBI Japan shared on its official X account the launch of a new initiative service called “Rent Coin”. Rent Coin was designed by the firm to provide a new possibility for crypto enthusiasts to earn passive income when holding Shiba Inu (SHIB), Bitcoin (BTC), and Bitcoin Cash (BCH). 

This recent product launch coincided with a time when Shiba Inu and the overall crypto market were experiencing a dip. Interestingly, even though Shiba Inu is currently trading at $0.000022, it is all about long-term HODL for the investors as they hope for a price rebound. The SBI VC Trade is poised to add a new passive reward avenue as SHIB investors HODL their tokens.

How does the service work? 

With the lending service, crypto holders or interested participants will need to lock up their  Shiba Inu or other select cryptocurrencies in a special wallet. By doing so, they are helping to secure the network and validate transactions. In return for their contribution, extra income is earned passively. 

SBI VC Trade highlighted that the service is aimed at investors who have no future use for their crypto assets. It is worth noting that participants are solely required to commit their digital currencies during the lending period, without any other obligations. 

The lending rates for crypto assets at SBI VC Trade vary based on factors such as the specific asset, duration of lending, and the timing of enlistment.

Starting Low But Scaling In View

Though SBI VC Trade can offer this lending program to 20 different cryptocurrencies such as Litecoin (LTC), Polkadot (DOT), Cardano (ADA), Chainlink (LINK), Solana (SOL), and Avalanche (AVAX) to mention a few, it is currently inviting participation with 7 distinct assets including XRP, Stellar (XLM), Dogecoin (DOGE), Shiba Inu, Bitcoin, BCH, and DAI stablecoin.

The exchange stated that participants cannot opt out once it’s passed the deadline date which is on the 25th of April. Also, loans might not be approved if too many participants apply or if there is low trading capacity. It is a 28-day lending window for holders of SHIB and BTC  to earn 2% annually and  5% for Bitcoin cash holders. 

Needed Incentive For Shiba Inu Holders

In crypto, many investors are generally in search of avenues to put their assets to work for them. At a time when mainstream investors now have access to spot Bitcoin Exchange Traded Fund (ETF) products, this new offering from SBI VC will help retail investors gain a huge leverage.

With low barriers to entry and universal acceptability, Shiba Inu, Bitcoin, and other supported crypto holders will stand at a major advantage.