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2019-10-09

8 Phase of Binance

Binance announced the launch of the eighth phase of the credit product on 7th October.

During this phase, Binance will start offering 14-day credit products for a limited period of time. Subscribers will be accepted on a "first come, first served" basis. The subscription period starts on 10 October and ends on 10 November, while interest will be paid immediately after maturity.

The digital assets covered by the scheme are: Binance Coin (BNB), Bitcoin (BTC), Binance USD (BUSD), EOS, Ethereum Classic (ETC), Ether (ETH), Chainlink (LINK), Tether (USDT) and XRP.

Annual loan profitability starts at 3% for Bitcoin and reaches 10% for BNB, USDT and BUSD.

Binance's crypto lending product launched at the end of August, as Cointelegraph reported at the time. Initially, the service was supported only by Binance, Ethereum Classic and Tether Coins. However, in September these products also included private coins such as Monero (XMR), Zcash (ZEC) and Dash (DASH).