Japanese Firm Lists XRP for Crypto Lending

It claims to be the only platform to offer XRP lending services in Japan openly.

FUELHASH, a Japanese crypto firm focused on encouraging crypto mining with renewable energy, has announced that its so-called “Crypto Trading” platform offering crypto lending services now supports XRP.

The firm revealed this in a press release yesterday, asserting that it is the only Japanese firm to offer this service for XRP. Notably, XRP joins USDC, USDT, BTC, ETH, ETC, and BNB as the other assets supported by the platform.

A visit to the website shows that users can offer a minimum of 100 XRP for lending on the platform with a fixed 1.5% interest rate after 90 days and 1% for 60 days.

FUELHASH was founded in March 2021 by Katsuya Konno with a mission to drive renewable energy-supported crypto mining with a focus on solar power in Japan and hydroelectric power abroad. It launched the crypto trading platform in November 2022.

“We have started handling XRP, which has many enthusiastic fans, from the desire to provide a means of income gain through lending operations to those who feel the future of crypto and hold it for a long time,” FUELHASH Representative Director Konno said, as translated by Google. “It will be the only open-type XRP lending service in Japan, so I would be happy if you could start with the minimum deposit amount (100 XRP). We will continue to reflect customer feedback and update our services.”

Notably, famous XRP influencer Crypto Eri also took to Twitter to share today’s development.

FuelHash in Japan, launched last year (by Katsuya Konno former Softbank, Liquid Exchange, Bitfury) announced adding #XRP trading & EARN LENDING PROGRAM on Monday with min. deposit of 100 XRP.

XRP joins USDC, USDT, BTC, ETH, ETC, BNBhttps://t.co/jzdA6dgB59@fuel_hash pic.twitter.com/aH6z6qafRw

— ?Crypto Eri 220k+ Followers (Beware of Imposters) (@sentosumosaba) February 14, 2023

It is further evidence of XRP’s popularity in Japan which is deeply rooted in Ripple’s partnership with SBI Holdings. Recall that as reported over a week ago, SBI VC Trade, the crypto exchange business of SBI Holdings, disclosed that it would be offering delegation as a service to FLR holders, a large portion of which are XRP holders who received the airdrop.

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