Japanese cryptocurrency exchange GMO Coin introduced a new service that allows users to provide the company with loans in bitcoins. It is reported Bitcoin.com.
“Rent a virtual currency service that allows users to provide the company with a loan their digital assets. You get rental income, which depends on the number of provided virtual currency”, — stated in the Declaration of GMO Coin.
To use the new service, users need to apply in the period from 11 April to 2 may. Currently the service supports only bitcoin.
It is also known that the minimum loan amount may be 10 bitcoins and a maximum of 100 BTC. The loan term is 90 days, after which the client receives their money and the accrued interest. Regardless of the number provided by the user of bitcoins, the yield is 5% per annum.
The user can get their money back and not waiting for the end of the loan term. In this case, the company shall, within five days of considering the appropriate application and returns the user it means less Commission for an early repayment of the loan.
We will remind, in the spring of last year, a similar service was launched a Japanese crypto currency exchange Coincheck.