The statement is inaccurate.
If you are referring to the retail cryptocurrency services provided by SBI Group (primarily through SBI VC Trade and the SBI Crypto app), the claim that users can lend XRP for a 0.1% annual return is incorrect for two major reasons: historical interest rates and current Japanese regulatory restrictions.
Here is a breakdown of why this statement is false:
1. The 0.1% Rate is Inaccurate
Historically, when SBI VC Trade actively offered its crypto lending service (Kashika), the annualized percentage yields (APY) for XRP were typically in the range of 1% to 3% (and sometimes higher depending on the lock-up period, such as 1, 3, or 6 months).
- A 0.1% per annum return is exceptionally low for cryptocurrency lending. That figure is more characteristic of traditional fiat (JPY) savings accounts in low-interest environments, not crypto lending.
- It is possible the 0.1% figure is a confusion with a trading fee, a daily yield rate misinterpreted as an annual rate, or a fiat interest metric.
2. Regulatory Suspension of Crypto Lending in Japan
More importantly, you likely cannot lend XRP on SBI’s exchange right now at all.
- In recent years, Japan’s Financial Services Agency (FSA) reclassified crypto lending services. The FSA determined that crypto lending carries risks similar to margin trading and banking, bringing it under the strict purview of the Financial Instruments and Exchange Act.
- As a result of these stricter capital reserve and user-protection requirements, major Japanese exchanges—including SBI VC Trade, Coincheck, and GMO Coin—were forced to suspend, heavily restrict, or phase out their crypto lending services for retail users between 2022 and 2023.
- Furthermore, the modern SBI Crypto app (which absorbed much of SBI’s retail user base) is primarily designed for spot trading and does natively offer the legacy lending products that SBI VC Trade once did.
3. SBI Ripple Asia (B2B vs. Retail)
It is worth noting that SBI Group does have a joint venture with Ripple called SBI Ripple Asia. However, this is an enterprise/B2B entity focused on institutional liquidity, cross-border payments, and OTC (over-the-counter) trading. It is not a retail exchange where everyday users can deposit and lend XRP for interest.
Summary
If you saw this claim online, it is likely outdated, a mistranslation, or misinformation. Retail crypto lending in Japan has been largely halted due to FSA regulations, and when it was active, XRP yields were significantly higher than 0.1% APY. Always verify current product offerings and rates directly on the official SBI Crypto or SBI VC Trade platforms.