On Wednesday (September 4), Binance launched phase two of its crypto lending platform (Binance Lending) on Wednesday (September 4) at 06:00 UTC.
Binance announced on August 26 that it was going to launch a crypto lending platform on August 28:
#Binance Will Launch Lending Platform: 14-Day Fixed Term $USDT, $BNB and $ETC Lending Products Available for Subscriptionhttps://t.co/i3LKCvhLUq pic.twitter.com/pxsBaXZnWu
— Binance (@binance) August 26, 2019
Phase one went live at 06:00 UTC on August 28, and it offered 14-day fixed term lending products for Tether (USDT), Binance Coin (BNB), and Ethereum Classic (ETC).
In an article published on Tuesday (September 3) on the Binance website, the Binance team explained what phase two brings, most notably support for three additional cryptocurrencies: Bitcoin (BTC), Ether (ETH), and Cardano (ADA).
Whereas phase one only provided 14-day fixed term BNB, USDT and ETC lending products, here are the details for the lending products currently on offer:
The subscription period is from 06:00 UTC on September 4 to 00:00 UTC on September 5, and the format is “first-come-first-served”. The interest calculation period begins at 00:00 UTC on September 5.
Featured Image and Lending Products Table Courtesy of Binance
