Binance adds Axie Infinity, PAX Gold, Pendle, Render, and USD Coin to its Flexible Rate Loans offerings, enhancing its financial services suite.
Binance, one of the world’s leading cryptocurrency exchanges, has broadened its financial service offerings by adding several new assets to its Binance Loans (Flexible Rate) product, as announced on March 13, 2024. The new digital assets available for loaning include Axie Infinity (AXS), PAX Gold (PAXG), Pendle (PENDLE), Render (RNDR), and USD Coin (USDC).
The addition of these assets provides Binance users with more versatile options for leveraging their cryptocurrency holdings. Binance Loans (Flexible Rate) allows users to take out loans by collateralizing their cryptocurrency, providing flexibility without committing to a fixed loan term. This service stands out because it offers users the opportunity to earn Real-Time Annual Percentage Rate (APR) rewards via Simple Earn Flexible Products while their cryptocurrencies are being used as collateral.
Please Note:
Users are encouraged to check the Loan Data section on the Binance platform for the latest interest rates and a comprehensive list of loanable and collateral assets.
To utilize the new Binance Loans (Flexible Rate) service, users should ensure they have updated their Binance App to iOS v2.78.0 or Android v2.78.0 or later, as older versions do not support this feature.
Binance’s continuous expansion of services demonstrates its commitment to providing comprehensive financial tools to its global user base. However, it’s important to note that the availability of these products and services may vary by region.
As digital asset prices are volatile, and the value of investments can fluctuate. Users are advised to make investment decisions with caution, as Binance is not responsible for potential losses. The APR is an estimate and may differ from actual rewards. This announcement is not financial advice.
Image source: Shutterstock
Credit: Source link
