At Extreme Investor Network, we are excited to share the latest news from Binance, one of the world’s leading cryptocurrency exchanges. Binance recently announced the addition of new loanable assets to its Binance Loans (Flexible Rate) and VIP Loan services, offering users more options when it comes to crypto-backed loans.
Enhanced Loanable Assets for Greater Flexibility
The latest update from Binance introduces a range of new loanable assets, providing users with a wider selection of options to leverage their cryptocurrency holdings. This expansion aims to offer greater flexibility and tailored financial solutions to both individual and institutional clients, catering to a diverse range of needs in the crypto space.
Binance Loans (Flexible Rate) for Open-Term Borrowing
Binance Loans (Flexible Rate) is a unique open-term loan product that allows users to borrow against their cryptocurrency holdings without committing to a specific loan term. Users can place loan orders while collateralizing assets in existing Simple Earn Flexible Products subscriptions. The loan rates are updated every minute, and users can initiate a loan order with a minimum of 1 USDC equivalent. This service not only provides flexibility in borrowing but also allows users to earn Real-Time APR rewards through Simple Earn Flexible Products.
Introducing Binance VIP Loan for Larger Financial Needs
For users with larger personal and institutional needs, Binance offers the VIP Loan service. This over-collateralized loan product comes with competitive rates and terms, catering to individuals and institutions looking for greater liquidity for long-term investments, leveraged trading, and hedging strategies. The VIP Loan service is designed to unlock more significant financial potential for its users, providing them with the tools they need to make strategic investment decisions.
Accessing the New Loanable Assets and Services
To make use of these new loanable assets, users can refer to Binance’s Loan Data and VIP Loan pages for the latest interest rates and a complete list of loanable and collateral assets. Users interested in the VIP Loan service can also reach out to the Binance VIP Key Account Coverage team for more detailed information. It’s important to note that users looking to place new Binance Loans (Flexible Rate) orders via the Binance App will need to upgrade to iOS v2.78.0 or Android v2.78.0 or later versions, as older app versions will no longer support the placement of new orders.
Continued Commitment to Innovation and User Satisfaction
Binance remains dedicated to enhancing its financial product offerings, with a focus on providing versatile and competitive solutions for its diverse user base. The introduction of these new loanable assets underscores Binance’s commitment to expanding its financial services and meeting the evolving needs of the cryptocurrency community. Stay tuned for more updates on the latest developments in the crypto space.
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