Binance, the world’s largest cryptocurrency exchange by trading volume, has launched a new feature for its users, namely, the lending process.

Advertising About lending in cryptocurrency officially was yesterday, Monday, with the feature to be available to customers starting on August 28 at 6 am UTC.

Lending on the Binance platform will initially be available only for some cryptocurrencies and not others, and they are all of you

USDT, ETC, BNB, and users willing to lend these coins can be paid between August 29 and September 11.

The interest rate is set by currency at 15%, 10%, and 7% for BNB, USDT and ETC, respectively.

Binance has set a maximum limit for the lending process, which is 200,000 BNB, 10 million USDT, and 20,000 ETC.

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Calculation and registration are carried out according to who arrives first.

If the subscription goes as planned, Binance will pay interest of 1,150 BNB, 19,178 USDT and 53 ETC which are worth $50,000 at the time of writing.

Each Binance user will have an initial cap on lending products.

Margin users who borrow BNB and USDT will be charged annual interest rates of 109% and 10% respectively.

The platform also included in its announcement that it will constantly work to evaluate new currencies and tokens and involve them in future lending operations.

New products will be revealed weekly from Monday and will be available on Wednesday.

The new service offered by Binance was not surprising

The platform manager said at a previous London event that Binance is preparing to launch its lending business in mid-August.

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