Felix Pinkston
Sep 18, 2024 09:02
Binance has added new loanable assets to its Flexible Rate and VIP Loan services, enhancing user flexibility and borrowing options.
Binance, a leading cryptocurrency exchange, has announced the addition of new loanable assets to its Binance Loans (Flexible Rate) and VIP Loan services. This move aims to provide users with more flexibility and options when borrowing cryptocurrencies.
New Loanable Assets
The new loanable assets are now available on both the Binance Loans (Flexible Rate) and VIP Loan platforms. Users can refer to the Loan Data and VIP Loan pages for the latest interest rates and a comprehensive list of loanable and collateral assets, according to Binance.
Binance Loans (Flexible Rate)
Binance Loans (Flexible Rate) is an open-term loan product that allows users to complete loan orders while using cryptocurrencies in existing Simple Earn Flexible Products subscriptions as collateral. This service offers greater flexibility without committing to a specific loan term and enables users to earn Real-Time APR rewards through Simple Earn Flexible Products. Loan rates are refreshed every minute, and users can place a loan order with a minimum of 1 USDC equivalent.
Binance VIP Loan
Binance VIP Loan is designed for large personal and institutional clients, providing over-collateralized loan services with competitive rates and terms. This service is suitable for those looking to unlock greater liquidity for long-term investment funds, leveraged trading, or hedging strategies.
Additional Information
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 versions. Older app versions will not support new loan orders. Users interested in the VIP Loan service can contact the Binance VIP Key Account Coverage team for more details.
For further details, users can visit the official announcement on Binance.
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