Binance introduces 14-day fixed term lending on BTC, LTC and XRP in 6th phase of Lending Products
While the first five phases of Binance’s recent lending services focused on adding various tokens and VIP-centered investment opportunities, Binance revealed the launch of the sixth phase of Binance Lending Products, which marked the beginning of their fixed-term lending initiative. According to the official Binance post,
“Binance will launch the sixth phase of Binance Lending Products at 2019/09/25 6:00 AM (UTC), where 14-day fixed term lending products will be made available.”
Binance’s 14-day fixed term lending products will be made available to the users on a “first-come-first-served basis” for 24 hours only since launch. In addition, the interest on the investments will be calculated for 14 days till 2019/10/09 6:00 AM (UTC). The chart below explains the expected returns for some of the top crypto assets among its in-house token BNB, including XRP, LTC, BTC and USDT.
While the news marked another milestone toward crypto adoption, the incentive to gain “confirmed” profits may encourage traditional crypto investors to rethink investment strategies involving digital assets.