TL;DR
- Binance added 18 new cryptocurrencies, including meme coins and established altcoins, to its loan program and introduced new tokens to its VIP Loan section.
- Binance Loans allows users to borrow funds using their crypto stash as collateral.
Binance, the top cryptocurrency exchange, consistently updates its platform with new features in line with market developments and to improve user satisfaction.
Recently, Binance Loan has expanded its offerings by introducing 18 new loanable assets. Among these are the popular meme coins Dogecoin (WIF) and Pepe (PEPE), as well as established altcoins such as Hedera Hashgraph (HBAR), IOTA, and Celestia (TIA).
The company additionally revealed that it has incorporated Saga (SAGA) and Tensor (TNSR) into its VIP Loan segment. These tokens were introduced this week and have since surpassed a market capitalization of $200 million each.
Binance Loans (Flexible Rate) is a service that allows users to borrow funds using their digital assets as collateral.
Users can borrow cryptocurrencies on Binance Loans (Flexible Rate) without being tied to a particular loan term, providing more flexibility. At the same time, they can earn Real-Time APR rewards through Binance’s Simple Earn Flexible Products. The loan rates are updated every minute, allowing users to place a loan order with a minimum of 1 USDT equivalent. In simpler terms, Binance allows you to borrow cryptocurrencies without setting a specific repayment term and earn rewards while doing so, with new loan rates available every minute and a low minimum threshold for placing an order.
Since the start of the year, the company has announced numerous comparable initiatives. Last month, they introduced the trading pairs PEPE/FDUSD, UNI/FDUSD, OM/TRY, PIXEL/USDC, STRK/USDC, and THETA/TRY on Binance Spot. Additionally, Floki Inu (FLOKI) and 17 other alternative coins became available as new assets for lending on Binance Loans.
Most recently, the firm opened trading and enabled Spot Algo Orders Trading Bots services for the USDT/MXN pair. MXN is the symbol of the Mexican peso (the national currency of the Latin American country).
Providing this feature makes it easier for locals to navigate the crypto world. They won’t need to change their funds into USD to engage with the stablecoin system.
Binance also regularly adds trading pairs focused on the Turkish lira, enabling locals to jump on the cryptocurrency bandwagon. Turks are quite intrigued in the digital asset sector, maybe because they are seeking financial alternatives to the economic challenges their homeland struggles with.
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2024-04-10 22:38