According to TechFlow, on December 22, Backpack officially launched its lending services for Japanese users. Users can now use BTC, ETH, SOL, XRP, and USDC as collateral to borrow without selling their assets. The service includes depositing crypto assets to earn floating returns and borrowing USDC against crypto collateral. Backpack warns of liquidation risks and clarifies that it currently only offers lending services, not spot or perpetual contracts. Japanese residents can now also join the Backpack Point rewards program to earn benefits.
Backpack Launches Lending Services for Japanese Users, Points Program Now Available
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Summary
Backpack has launched lending services for Japanese users, with a points program now available. Users can deposit BTC, ETH, SOL, XRP, and USDC to earn returns or borrow USDC using crypto as collateral. The platform warns of liquidation risks and confirms it does not offer spot or futures trading. Japanese residents can join the rewards program for added benefits. Traders using TA for crypto should watch key support and resistance levels as the service expands.
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