Binance, a cryptocurrency exchange, recently announced that it would start providing lending services. With the company making this announcement, there was strong demand throughout the sector.
New Service from Binance
Binance issued an announcement about lending operations a few days ago, which attracted a lot of attention.
The company has announced that it will offer lending support for Binance Coin, Tether and Ethereum Classic in its initial phase. Among them will be Binance Coin’s 15 percent annual return, USDT 10 percent and Ethereum Classic 7 percent annual returns.
Binance CEO Changpeng Zhao said after reaching the limits in such a short time:
“We have a habit of underestimating the demand for the future each time.”
As soon as Binance launched its lending services, it faced a strong demand. According to the company’s statements, the lending limit for Binance Coin was reached in 16 seconds, the limit for USDT was reached in 3 minutes, and the Ethereum classic was set in 9 minutes.