Binance adds BUSD cryptocurrency to its lending program with up to 10% interest
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Answer Binance adds BUSD cryptocurrency to its lending program with up to 10% interest
Binance, the largest cryptocurrency exchange by trading volume, has announced the details of the eighth phase of the lending program, which will start today, October 9.
It offers investors the possibility to earn passive income on their crypto holdings with 14-day contracts.
According to the announcement of the Binance platform, it added it to support lending to the stable digital currency BUSD
Announcing an annual return of 10% on a 14-day lending option with a maximum offer of $5 million per person.
#finance Phase 8 launches Binance Lending Products pic.twitter.com/zSdIhGDfoG
– Binance (binance) October 7, 2019
Read:Total Locked DeFi Value Exceeds $50 Billion
And what the Binance platform is doing shows its relentless pursuit to secure its market share in the lending and passive income sector, especially with competitors starting to appear.
As we have already mentioned in a previous topic on Arab bitcoin site Coinbase announces the system to hold USDC on Coinbase for 1.25%.
Coinbase launches a reward program for USDC holders
Voyager cryptocurrency trading app is also seeking to offer interest bearing accounts and cryptocurrency loans.
Read:ProShares announces first Bitcoin-linked ETF in the US
This means that there is a demand for such services and new features.
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