Krutika Adani
SBI VC Trade has announced a lending campaign for Shiba Inu where users could deposit Shiba Inu to earn 1.5% yearly interest.
Currently, the feature might be available only to the Japanese customers.
While 1.5% interest rates might seem low to the world, they are considered high in Japan because of the prevalence of zero—to negative interest rates. For comparison, XRP fetches a 0.1% interest rate in the exchange.
SBI VC Trade is a cryptocurrency exchange backed by the Japanese financial giant SBI Holdings.
The demand for Shiba Inu is expected to increase in Japan, one of the largest markets for memecoins.