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Litecoin, XRP and USDC included in third phase of Binance Lending

Arijit Sarkar

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BNB, ETC, LTC, XRP, USDT and USDC make entry into Binance Lending Products
Source: PxHere

Binance’s recent lending platform offering has not only managed to attract a fresh set of investors but also deliver a interest rate-based rewarding system. While the second phase of the rollout saw the inclusion of BTC and few altcoins including ETC and ADA, the third phase of Binance Lending Products includes other leaders from the altcoin universe including BNB, ETC, LTC, XRP, USDT and USDC. According to the official post,

“Binance will launch the third phase of Binance Lending Products at 2019/09/11 6:00 AM (UTC), where 14-day fixed term lending products will be made available.”

Following the company tradition, Binance will maintain a “first-come-first-served” subscription format with an immediately interest payout after loan term matures. The post also featured a detailed chart to explain the specifics to its investors.

Source: Binance

As explained from the source, “If User A subscribes to 10 lots of BNB (14 days) Lending (total lend of 100 BNB), the interest earned at maturity date will be 0.038356 BNB * 10 = 0.38356 BNB.” Additionally, the user’s BNB balances committed into lending products will be included in each user’s daily BNB balance calculations for Binance Launchpad and other daily calculations.

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

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