Binance Expands Loanable Assets for Flexible Rate and VIP Loans
Darius Baruo Jul 31, 2024 09:55
Binance has added new loanable assets for its Flexible Rate and VIP Loan services, enhancing options for users, according to a recent announcement.
Binance, a leading cryptocurrency exchange, has announced the expansion of its loanable assets under the Binance Loans (Flexible Rate) and VIP Loan services. This addition aims to provide users with more options and flexibility in their borrowing needs, according to a statement from Binance.
New Loanable Assets
The latest update introduces a range of new loanable assets, enhancing the borrowing portfolio for both individual and institutional clients. The specific assets added were not disclosed in the announcement, but users can refer to the Binance Loans and VIP Loan pages for the latest interest rates and complete lists of loanable and collateral assets.
Flexible Rate Loans
Binance Loans (Flexible Rate) is an open-term loan product that allows users to collateralize cryptocurrencies held in Simple Earn Flexible Products subscriptions. This service offers the flexibility of not being tied to a specific loan term, enabling users to earn Real-Time APR rewards while borrowing. Loan rates are updated every minute, and the minimum loan order starts at the equivalent of 1 USDC.
VIP Loan Services
Binance VIP Loan caters to high-net-worth individuals and institutions seeking over-collateralized loans with competitive rates and terms. This service is designed to provide greater liquidity for long-term investments, leveraged trading, and hedging strategies. Users interested in VIP Loan services can contact the Binance VIP Key Account Coverage team via email for more information.
Technical Requirements
To access the new loanable assets via the Binance App, users must upgrade to iOS v2.78.0 or Android v2.78.0, or later. Older versions of the app do not support the placement of new Flexible Rate loan orders. For detailed information on the latest updates, users can refer to the relevant announcements on the Binance website.
Disclaimer
Binance emphasizes that digital asset prices are highly volatile and subject to market risks. The value of investments may fluctuate, and users are solely responsible for their investment decisions. Binance recommends consulting an independent financial adviser before making any investments. For more information, users can review Binance's Terms of Use and Risk Warning.
For more details on the new loanable assets and services, users can visit the Binance Loans and VIP Loan pages on the official Binance website.
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