The CEO of the world’s largest cryptocurrency exchange, Binance, took to Twitter to announce the entry of Binance into the cryptocurrency lending space. The new offering is called as “Binance Lending”.
The currently supported cryptocurrencies for Binance lending are BNB, Ethereum Classic (ETC) and Tether (USDT). According to Binance, users will be able to grow their funds by earning interest income for lending out their holdings over a specific period of time.
The term for maturity according to Binance is 14 days. Moreover, users can earn up to 15% annually through Binance lending. Each asset class has a different lending rate, and return cap.
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