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Finance

Bitcoin getting interest-paying accounts in Japan

Online services provider GMO Internet also launching bitcoin exchange

TOKYO -- Japanese bitcoin holders will soon be able to reap virtual interest, as domestic exchange Coincheck is launching the country's first interest-paying fixed deposit accounts for the digital currency.

The Tokyo-based Coincheck will offer four plans, letting users deposit their currency for 14 days at a 1% annual interest rate, 30 days for 2%, 90 days for 3%, or a full year for 5%. So an account holder depositing 10 bitcoin ($15,956) for 90 days would earn roughly 0.07 bitcoin.

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