Binance enters into crypto lending space, offers interest-earning opportunities for BNB, ETC and Tether
Holders of Binance coin (BNB), Ethereum classic (ETC) and Tether (USDT) stablecoin can now lend their assets and earn interest
The world’s largest cryptocurrency exchange Binance has ventured into lending space, according to an announcement Monday.
The new offering, dubbed “Binance Lending,” allows holders of BNB token, Ethereum classic (ETC) and Tether (USDT) stablecoin earn interest on their funds. The service will be available on a first-come, first-served basis, starting from 6:00am UTC on Aug. 28 to 12:00am UTC on Aug. 29.
Binance said the annualized interest rate for the initial BNB lending product, which has an initial 14-day period, is set at 15%. The maximum cap per account is initially set at 500 BNB and 1,000,000 USDT respectively.
Binance Register: https://www.binance.com/en/markets?ref=20070915
Source: Binance
