The prominent Japanese cryptocurrency exchange, BitTrade, has expanded its offerings to include XRP and Shiba Inu (SHIB).
In a recent announcement, BitTrade unveiled its support for SHIB and XRP within its lending product. The exchange has initiated the process of making these cryptocurrencies available for lending.
For both SHIB and XRP, BitTrade has set a 90-day loan period with a fixed annual interest rate of 2%. Users have the flexibility to borrow a minimum of 100 XRP (equivalent to $59.5 at the current market rate) and a maximum of 500,000 XRP ($297,500).
Regarding Shiba Inu tokens, BitTrade has established a minimum loan amount of 10 million SHIB ($80), with a maximum loan limit of 10 billion SHIB ($80,000).
It's worth noting that BitTrade has been a strong supporter of both Shiba Inu and XRP. Before this announcement, the Japanese exchange had already enabled spot trading for these assets.
BitTrade's asset offerings have been expanding, with SHIB and Dogecoin being listed on the platform last month. This move increased the total number of supported assets to 34 at that time. However, according to CoinGecko data, BitTrade currently supports 27 assets, including XRP, SHIB, BTC, ETH, MKR, ONT, and others.
Despite its relatively low trading volume, which stands at $4.5 million over a 24-hour period, BitTrade holds a registered license in Japan, making it one of the few exchanges to do so in the country.
BitTrade's decision to incorporate SHIB and XRP lending is a response to the growing popularity of these assets. Both SHIB and XRP have active and passionate communities that frequently express their support on social media platforms, catching the attention of prominent crypto trading platforms.
While new cryptocurrencies often pay fees to be listed on major exchanges, established coins like SHIB and XRP attract exchanges' interest due to their dedicated and enthusiastic user bases.
As reported earlier, Shiba Inu supporters launched a successful campaign that convinced the American trading platform Robinhood to add support for SHIB. The XRP community has similarly taken initiatives to gain recognition, and it may only be a matter of time before Robinhood yields to their pressure.
