Binance Labs Invests into Libra Credit to Meet Crypto Asset Liquidity Demands
Binance Labs is the driving force behind Binance, which is presently in charge of the largest digital asset exchange in the industry. In a recent effort to broaden their services to consumers, they have made an investment with Libra Credit, which is its own decentralized platform for digital assets.
The Binance Labs brand helps other blockchain and cryptocurrency communities and entrepreneurs to further their own companies. By putting their support behind Libra Credit, they are helping with the demand that the rest of the community has for Ethereum-based crypto assets on the blockchain. Libra’s intention is to create a distributed lending ecosystem that will help customers get credit whenever they really need it.
According to the CEO of Binance Labs, Ella Zhang, the users on the platform have the option to make their cryptocurrency into credit. Zhang said, “Libra Credit founding team has a wealth of experience and resources in financial services and payment solutions. They are committed to make long-lasting impacts in the industry.”
Additionally, anyone that participates in Libra Credit’s services can use BNB as a form of collateral. Along with the different resources that Binance Labs can offer the company, Libra Credit will also use the decentralized exchange at their disposal to bring credit to the rest of the world.