Binance Launches Eighth Phase of Its Lending Product
Cryptocurrency exchange Binance has announced the launch of the eighth period of its lending product
In this phase, Binance will start supplying 14-day fixed-term lending products. The readers will be accepted on a first-come, first-served basis. The subscription period begins on Oct. 10 and ends on Nov. 10, while interest will be paid immediately after the term evolves.
An annualized percentage yield of 10%
The electronic assets included in the application are Binance Coin (BNB), Bitcoin (BTC), Binance USD (BUSD), EOS, Ethereum Classic (ETC), Ether (ETH), Chainlink (hyperlink ), Tether (USDT) and XRP.
The annualized percentage return on loans begins at 3% for Bitcoin and reaches 10% for BNB, USDT and BUSD. The market’s CEO Changpeng Zhao commended the high yield of those loans at a tweet delivered on oct 7
Binance’s crypto lending product launched at the end of August, as Cointelegraph reported in the time. At first, the ceremony only supported Binance Coin, Ethereum Classic and Tether.
As reported in August, the holding firm of cryptocurrency-friendly Silvergate Bank, Silvergate Capital Corporation, announced that the firm plans to offer cryptocurrency-collateralized loans.
Source – Griffex
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