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Binance announces ninth phase of Binance Lending Products

Arijit Sarkar

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Source: Pixabay

Binance has become one of the most trusted crypto-exchanges around the world, given their success rate in delivering on roadmap promises. Keeping up the progress, Binance has announced the launch of the ninth phase of Binance Lending Products, to be held at 12pm, 16 October. As per the official announcement, this release will ensure the availability of 14-day fixed term lending products.

Binance’s official tweet read,

Staying in line with previous releases, the crypto-exchange will make the subscription available on a “first-come-first-served basis.” Moreover, as per the blog, the subscription period is “from 2019/10/16 12:00 PM (UTC) to 2019/10/17 0:00 AM (UTC),” although the interest rates will be calculated until the end of the month, i.e. to 2019/10/30 12:00 PM (UTC).

Source: Binance

Binance has also highlighted that the interest payout till will be given immediately after the loan term matures.

As a note to interested investors, Binance has also highlighted that BNB balances committed into Lending products will be included in each user’s daily BNB balance calculations for Binance Launchpad and other daily calculations, as mentioned in the Daily BNB Balance Calculation Mechanism Update.

Arijit is a full-time journalist at AMBCrypto, who focuses on the XRP and Ethereum ecosystem. Leveraging over three years of experience in media and Majoring in Computer Science, he covers the technical developments in the crypto ecosystem