Binance introduces ‘crypto loan’ feature
Binance, a renowned digital currency trading platform, recently announced its intentions to broaden the array of assets available for lending through its Binance Loans (Flexible Rate) and VIP Loan offerings.
Such an expansion is aimed at meeting the varying loan demands of its clientele, thereby increasing their operational flexibility on the platform.
With the addition of new lending assets, Binance strives to solidify its role as a dynamic operator in the continuously shifting domain of digital finance.
This strategic step by Binance is notably set against the backdrop of its ongoing legal confrontations with the SEC, coupled with the recent sentencing of CEO Changpeng Zhao, marking a progressive stride forward.
Binance has broadened the list of assets eligible for loans on Binance Loans (Flexible Rate) and VIP Loan as follows. For Binance Loans (Flexible Rate)- Bittensor (TAO), LayerZero (ZRO), and Lista (LISTA). For VIP Loan- Bittensor (TAO), COTI (COTI), LayerZero (ZRO), Lista (LISTA), Portal (PORTAL), Sleepless AI (AI), and Vanar (VANRY).
For placing new orders with Binance Loans (Flexible Rate) through the Binance App, users are required to update the App to iOS v2.78.0 or Android v2.78.0, or a higher version. The placement of new orders is not supported on older versions of the app.
This advancement has flipped the previously declining trend of BNB. As per the most recent data, BNB was priced at $530.70, experiencing a rise of 1.39% within the past 24 hours.
