Japan's Bitcoin Lending Market Expands with $6.2M Loans

Japanese lender CRYL has expanded the country's Bitcoin lending market by offering loans ranging from $6,200 to $6.2 million.

The service allows individuals and businesses across Japan to access yen without selling their Bitcoin holdings, providing an alternative to either holding or selling crypto.

Cryl set annual borrowing rates between 3.5% and 7%, with collateral ratios of 40% to 60% depending on the borrower and loan terms.

The loans run for one year and may be extended, but most contracts require borrowers to repay the principal and interest in one lump sum at maturity.