Binance Introduces New Loanable Assets for Flexible Rate and VIP Loan Services
Luisa Crawford Jun 19, 2024 11:40
Binance has expanded its loan offerings by adding new loanable assets to its Flexible Rate and VIP Loan services, enhancing options for users.
Binance, a leading cryptocurrency exchange, has announced the addition of new loanable assets to its Binance Loans (Flexible Rate) and VIP Loan services, according to an official announcement.
Expanded Loan Offerings
The announcement details the inclusion of additional loanable assets, which will be available on both the Binance Loans (Flexible Rate) and VIP Loan platforms. This move aims to provide users with increased flexibility and a wider range of options for securing loans against their cryptocurrency holdings.
Key Features of Binance Loans (Flexible Rate)
Binance Loans (Flexible Rate) is designed as an open-term loan product, allowing users to collateralize their cryptocurrencies from existing Simple Earn Flexible Products subscriptions. This service offers the benefit of not committing to a specific loan term while enabling users to earn Real-Time APR rewards. The loan rates are refreshed every minute, and users can place a loan order with a minimum of 1 USDT equivalent.
About Binance VIP Loan
The Binance VIP Loan service caters to large personal and institutional clients, offering over-collateralized loans with competitive rates and terms. This service is intended to unlock greater potential for objectives such as enhanced liquidity, leveraged trading, and hedging strategies.
Additional Information
Users interested in the VIP Loan service can contact the Binance VIP Key Account Coverage team via email at vip_loan@binance.com for more details. Additionally, to place new Binance Loans (Flexible Rate) orders via the Binance App, users need to upgrade to iOS v2.78.0 or Android v2.78.0 or later, as older versions no longer support these orders.
For the latest interest rates and a complete list of loanable and collateral assets, users can refer to the Loan Data and VIP Loan sections on the Binance website.
This expansion of loanable assets is part of Binance's ongoing efforts to enhance its financial products and services, providing users with more options and greater flexibility in managing their cryptocurrency investments.
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