Binance Introduces XMR, ZEC and DASH Lending 

Asia Blockchain Review
September 26, 2019

Binance exchange has revealed that from September 20 onwards, it will start offering three new coins as part of the fifth phase in the firm’s crypto lending project.

Offering New Altcoins on Binance

According to Cointelegraph, Binance Lending Service, which was launched on August 28, 2019, will introduce three altcoins on its platform: Zcash (ZEC), Dash (DASH), and Monero (XMR), which is known for its privacy.

Binance disclosed that it will offer a 14-day fixed-term lending period following subscription from September 20 to 21. The company’s statement also said all tokens will have an annualized interest rate at 3.5%

Shifting Rates for Project Phases

Binance Coin (BNB), the platform’s native token, offered the highest-yielding annualized interest rate at 15% during its initial phase. Later in the fourth phase, the firm offered 10% and 6% interest rates for the crypto.

For Bitcoin (BTC), the platform set the interest rate at 3% as well as a maximum subscription of 2,000 BTC, similar to other cryptos such as Tether (USDT), Ether (ETH), and Ethereum Classic (ETC).

For the fifth phase, Binance revealed that the interest calculation period will be from September 20 to October 4.

Hacking Rumors Denied

Binance CEO Changpeng Zhao recently dispelled rumors that a hacker had attacked the firm’s Bitcoin futures platform, which was introduced on September 2, 2019.

On September 17, 2019, Binance also reportedly made a strategic investment in a Chinese company for the first time since it left China due to the local cryptocurrency trading ban announced in 2017.


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