CoinVoice has recently learned that, according to an official announcement, the Backpack lending service has officially opened to Japanese users. Users can use assets such as BTC, ETH, SOL, XRP, USDC as collateral to borrow without selling their assets. Among them, the lending function allows users to deposit cryptocurrency assets to earn floating returns; the borrowing function allows users to borrow assets such as USDC with cryptocurrency as collateral.

Backpack warns that borrowing carries liquidation risks and currently only offers lending services, excluding spot and perpetual contracts.

At the same time, Japanese residents can now participate in the Backpack Point rewards program that they could not previously join to earn returns. [Original link]