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Largest cryptocurrency exchange launches lending line

Binance, the one of the biggest digital exchange, launched a new area of its activity - Binance Lending, that will begin to work already from August, 28, by turn.

ethereum available for lendingPhoto: Pixabay

Originally, users could loan their BNB, U.S. dollar-pegged USDT and ETC cryptocurrency for interest return, available for payments from August, 29 to September, 11. 

The percentage rate for the primary lending with a fourteen-day maturity date, would amount 15 percent, 10 percent and 7 percent, for BNB, USDT, and ETC, respectively.

Moreover just hours later after lending line announcement, Binance exchange posted that beginning with August, 27, the margin borrow interest rate for Ethereum Classic will be increased from 7.3 percent to 14.6 percent on annualized basis.

To crown it all, the list of new currency for lending will be revised every Monday and added for subscription in a day.

Besides the point on Monday the prices for Bitcoin and Altcoins were as follows:

  • Bitcoin added 3.63 percent, to $10.366 at 14.00 GMT;

  • Ethereum grew by 2.55 percent, to $189,16;

  • Ripple advanced 0.97 percent, to $0.2701;

  • Bitcoin Cash rose by 2.35 percent, to $309.20;

  • Litecoin jumped by 3.07 percent, to $73.59.

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