Binance announced on 26 August that it had launched the Lending service and had a huge impact on the ecosystem.
First Stage Completed
The first stage of the Lending service, which will enable users to earn money on interest in exchange for renting cryptocurrencies, is completed. Binance made the following statements on his official website:
The first phase of Binance Lending, which consists of 14 days fixed term BNB, USDT and ETC products, is fully completed. Stay tuned for more Lending products to be released.
The details of the first completed phase are as follows:
200,000 BNB Lending products: Completed in 15 seconds, with an interest rate of 15%, with 502 participants.
10,000,000 USDT Lending product: Completed in 10 minutes with an annual interest rate of 306 participants and 24 minutes and 3 seconds.
20,000 ETC Lending products: Completed in 7 minutes with an annual interest rate of 124 participants and 9 minutes and 48 seconds.
Some prominent names in the sector state that they aim to increase Binance Coin prices with Binance’s Lending service.