On Friday, the Corporation Abic announced early support of bitcoin. “From June 1 we offer loans, in which collateral is used the virtual currency bitcoin (BTC),” — said in a statement.

Abic Corporation, founded in 1973, headquartered in Tokyo, offers a wide range of secured loan products, including commercial and mortgage loans.

“In Europe and the United States the number of services that provide support to the ICO (Initial offering of coins) and borrowing with bitcoin as security is constantly increasing, — quotes News.bitcoin.com. In Japan it’s first service (provided by the cryptocurrency) loans in Japanese yen”.

One of the main advantages of getting such kind of loans is that in Japan “the sale of virtual currency, the proceeds from this transaction will be subject to progressive taxation, and the tax can reach 55 percent,” the company explained.

Loans secured cryptocurrency, saves clients from having to sell their digital assets. These products are available to both individuals and legal entities.

Credit conditions

The loan amount varies from 2 million yen (~ $ 18 260) to 1 billion yen (~ $ 9,13 million) with annual interest rates from 2.98% to 15.0%. Customers can borrow for a period of one month to five years.

“We’ll keep your Deposit (crypto) and set the Deposit … typically, liens are established in a virtual currency they can be sold once the market price rises,” said the company.

In addition, the company stated that the deposits in bitcoin clients will receive the coins in a result of forks. Perhaps this promise is because this week a group of lawyers began preparing a lawsuit against the Japanese cryptocurrency exchange, accusing it of failure to provide coins from forks.