Binance, a leading cryptocurrency exchange and blockchain platform, has announced the introduction of new loanable assets for its Binance Loans (Flexible Rate) and VIP Loan services. It’s worth noting that availability may vary by region.
Binance Loans (Flexible Rate) allows users to collateralize cryptocurrencies from their existing Simple Earn Flexible Products subscriptions to complete loan orders. This open-term loan product offers flexibility without committing to a specific loan term, and users can earn Real-Time APR rewards via Simple Earn Flexible Products. Loan rates are updated every minute, and users can initiate a loan order with a minimum of 1 USDT equivalent.
In contrast, Binance VIP Loan is a service tailored for personal and institutional clients, offering over-collateralized loans with competitive rates, terms, and services. This service is ideal for various objectives, including liquidity for long-term investment funds, leveraged trading, and hedging strategies.
Users can find the latest interest rates and a comprehensive list of loanable and collateral assets on the Loan Data and VIP Loan pages. For inquiries about VIP Loan, users can contact the Binance VIP Key Account Coverage team via email.
To place new Binance Loans (Flexible Rate) orders through the Binance App, users are advised to update the app to iOS v2.78.0 or Android v2.78.0, or later versions. Older app versions do not support the placement of new Binance Loans (Flexible Rate) orders.
Source: blockchain.news
