Daiwa Securities subsidiary Fintertech launches Bitcoin-backed yacht purchase loan service

ChainCatcher news, Fintertech, a subsidiary of Daiwa Securities Group, announced that it has begun offering digital asset-backed loans to buyers of the "NOT A GARAGE" shared luxury transportation service.

Users holding Bitcoin (BTC) or Ethereum (ETH) can obtain funding for purchasing private jets or yachts without having to sell their crypto assets. The actual annual interest rate for the first year is 0% - 3%, and from the second year onwards, it will be 3.2% - 6%, with a maximum loan amount of 500 million yen and a collateral ratio of 40%. Daiwa Securities has started introducing this loan service at its branches nationwide since October 1, further expanding the application scenarios of crypto assets in the high-end consumer sector.