Binance launches crypto lending business

Binance launches crypto lending business

Cryptocurrency exchange Binance has launched a lending business with the goal to attract more customer deposits. Users will be able to lend their U.S. dollar-pegged USDT, ethereum classic (ETC) and Binance’s BNB cryptocurrency in order to earn interest.

Binance also launched its margin trading business recently. Binance charges users who borrow BNB and USDT an annualized interest of as much as 109 percent and 10.0375 percent, respectively.

It is clear that Binance is making efforts to diversify its product offering. Due to the negative interest rates on fiat money Binance just might offer an attractive alternative for people who want to earn interest on their money. Cryptocurrency HODLers might want to put their holdings to work as well.

Click here to go to the Binance website.

You can find the original article on the Coindesk website.

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