Darius Baruo
Jul 31, 2024 09:55
Binance has added new loanable assets for its Flexible Rate and VIP Loan services, enhancing options for users, according to a recent announcement.
As a leading cryptocurrency exchange, Binance constantly strives to provide its users with innovative solutions and enhanced services. Recently, Binance announced the expansion of its loanable assets under the Binance Loans (Flexible Rate) and VIP Loan services, showcasing a commitment to offering more options for its users.
Enhanced Borrowing Options
The introduction of new loanable assets by Binance signifies a significant step towards increasing the borrowing portfolio for both individual users and institutional clients. While the specific assets added were not disclosed in the announcement, users can explore the Binance Loans and VIP Loan pages to access the latest information on interest rates and the complete lists of loanable and collateral assets.
Flexibility with Flexible Rate Loans
Binance Loans (Flexible Rate) provides users with an open-term loan product that allows collateralization of cryptocurrencies held in Simple Earn Flexible Products subscriptions. This unique service offers flexibility by eliminating the need for a specific loan term, allowing users to earn Real-Time APR rewards while borrowing. With loan rates updated every minute and a minimum loan order starting at the equivalent of 1 USDC, users can leverage this service for their financial needs.
Catering to VIP Clients
Binance VIP Loan targets high-net-worth individuals and institutions seeking over-collateralized loans with competitive rates and terms. This specialized service is designed to enhance liquidity for long-term investments, leveraged trading, and hedging strategies. Interested users can reach out to the Binance VIP Key Account Coverage team via email to learn more about VIP Loan services.
Seamless Access through Upgrades
To access the new loanable assets through the Binance App, users must update to iOS v2.78.0 or Android v2.78.0, or later. It is essential to note that older versions of the app do not support the placement of new Flexible Rate loan orders. Detailed information on the latest updates can be found on the Binance website, ensuring a seamless user experience.
Risk Disclaimer
It is crucial to acknowledge the volatile nature of digital asset prices and the inherent market risks associated with them. Binance emphasizes that the value of investments in digital assets can fluctuate, and users should exercise caution and consult with independent financial advisers before making any investment decisions. For a comprehensive understanding of risks and terms, users are advised to review Binance’s Terms of Use and Risk Warning.
To explore the new loanable assets and services offered by Binance, users are encouraged to visit the official Binance website and navigate to the Binance Loans and VIP Loan pages, providing access to detailed information and opportunities for financial growth.
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