Iris Coleman
Sep 26, 2024 03:57
Binance adds new loanable assets to its Flexible Rate and VIP Loan services, enhancing user options for borrowing and collateralizing assets.
In a recent announcement, Binance revealed the addition of new loanable assets to its Binance Loans (Flexible Rate) and VIP Loan services. This expansion aims to offer users more options for borrowing and collateralizing their assets, according to Binance.
New Loanable Assets
Binance has introduced several new assets available for loans under both its Flexible Rate and VIP Loan services. Specific details about the newly added assets were not disclosed in the announcement. However, users can refer to the Loan Data and VIP Loan pages for the latest interest rates and a comprehensive list of loanable and collateral assets.
Binance Loans (Flexible Rate)
Binance Loans (Flexible Rate) offers an open-term loan product that allows users to collateralize cryptocurrencies within their existing Simple Earn Flexible Products subscriptions. This service provides greater flexibility as users are not required to commit to a specific loan term. Additionally, users can earn Real-Time APR rewards through Simple Earn Flexible Products. Loan rates are refreshed every minute, and users can place a loan order with a minimum of 1 USDC equivalent.
Binance VIP Loan
The Binance VIP Loan service caters to large personal and institutional borrowers, offering over-collateralized loans with competitive rates and terms. This service is designed to unlock greater potential for objectives such as increased liquidity for long-term investment funds, leveraged trading, and hedging strategies.
Important Notes
- Users interested in VIP Loan can contact the Binance VIP Key Account Coverage team for further information.
- To place new Binance Loans (Flexible Rate) orders via the Binance App, users must upgrade to iOS v2.78.0 or Android v2.78.0 or later versions. Older app versions no longer support new orders for Binance Loans (Flexible Rate).
- There may be discrepancies in translated versions of this announcement. Users should reference the original English version for the most accurate information.
For more details about the new loanable assets and the services provided, users can visit the official announcement on Binance.
About Binance
Binance is a leading global cryptocurrency exchange that provides a platform for trading various digital assets. Known for its extensive range of services, Binance continues to innovate and expand its offerings to meet the diverse needs of its users.
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