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.
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%
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.
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.
About Asia Blockchain Review
Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.
Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.
Follow Asia Blockchain Review on:
We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us