Binance Adds New Loanable Assets to its Flexible Rate and VIP Loan Services
Rebeca Moen May 15, 2024 09:00
Binance has announced the addition of new loanable assets to its Binance Loans (Flexible Rate) and VIP Loan services.
Binance Introduces New Loanable Assets
In a recent announcement, Binance, a globally recognized cryptocurrency exchange and blockchain platform, has introduced new loanable assets on its Binance Loans (Flexible Rate) and VIP Loan services. The announcement made it clear that products and services mentioned might not be available in all regions.
Flexible Rate and VIP Loan Explained
Binance Loans (Flexible Rate) is an open-term loan product that allows users to complete loan orders while collateralizing cryptocurrencies in their existing Simple Earn Flexible Products subscriptions. This service offers users greater flexibility without committing to a specific loan term when borrowing cryptocurrencies. Simultaneously, users can earn Real-Time APR rewards via Simple Earn Flexible Products. The loan rates are refreshed every minute, and users can place a loan order with a minimum of 1 USDT equivalent.
On the other hand, Binance VIP Loan is a large personal and institutional over-collateralized loan service with competitive rates, terms, and services. This service can be used to unlock greater potential in objectives such as liquidity for long-term investment funds, leveraged trading, and hedging strategies.
Additional Information for Users
Users interested in these services may refer to the Loan Data and VIP Loan pages for the latest interest rates and a complete list of loanable and collateral assets. For those interested in VIP Loan, they can get in touch with the Binance VIP Key Account Coverage team via email for more information.
For users who want to place new Binance Loans (Flexible Rate) orders via the Binance App, they are encouraged to upgrade the App to iOS v2.78.0 or Android v2.78.0, or later. Older app versions no longer support the placement of new Binance Loans (Flexible Rate) orders.
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