Binance, the world leader in the exchange of cryptocurrencies ecosystem, has announced the launch of Binance Lending, the easiest way to pay cryptocurrencies and earn interest. The products of Binance Lending for BNB and USDT shall be available for subscription from 10:00 UTC on 28 August 2019, in order of arrival. Binance Lending offers to users of Binance a new avenue to grow their portfolios from cryptocurrencies beyond the trading. Users can subscribe their funds to selected products of Binance Lending and accumulate interest over time. With this platform you can also choose among a wide range of loan options cryptographic, within those that are available are: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and more. “Binance Lending is simple and intuitive to use. Users can subscribe to any product loan and earn interest, it is as easy as that,” said Changpeng Zhao, CEO of Binance. “The interest rate for every product is guaranteed, so that your balance of crypto will always grow, regardless of how they move the market,” he added. The idea is that these users earn interest payable in the first phase, which goes from August 29 to September 11. On interest rates for the credit products initial, Binance announced that they will be annualized and shall have a period of a fixed maturity date of 14 days. In addition, the company said that the rates were established in 15%, 10% and 7%, BNB, USDT and ETC, respectively. The announcement of the launch of the business of lending (loans) surprised few, as the CEO of Binance, CZ, had mentioned during a recent event in London that the company was planning to launch a business of lending to mid-August. As you can see, the launch of the business of lending is another movement that is more of Binance in their attempt to diversify their lines of business to attract and retain more users. The move occurs just weeks after they formally launched the business of margin trading in July and revealed plans to add futures trading to its platform. Also, Binance Lending will constantly review new coins and tokens to support them as loan products based on the demand and offer the best value to its users. However, Binance is not the first platform to start lending cryptographic. Already offered in a couple of exchanges, especially with platforms margin trading as BitMEX, Bitfinex, Poloniex, etc Offer loans on a variety of cryptocurrencies. It is also expected that Binance add support for more tokens in its platform, loans. The following two tabs change content below. Venezuelan, student of the last semester of Social Communication. Attracted by the new technologies and the development that they offer to humanity.
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