XRP, Litecoin, and USDC Joins Binance’s Six Other Crypto Lending Products
The third phase of the Binance lending products has been launched, the world's leading cryptocurrency exchange announced on Monday.
Gradually, as promised by the exchange, Binance is including more and more digital currencies to its lending product line, with two need additions made in this phase.
The exchange has put a total subscription cap of 1 million XRP and 6,000 LTC and will pay 0.268493 XRP and 0.002684 LTC on maturity.
The individual cap size meanwhile, is 50,000 XRP and 300 LTC and a lot size of 1 LTC and 100 XRP.
Stablecoin USDC is another addition to this list, with a total subscription cap of 2 million USDC, individual cap of 500,000 USDC, and a lot size of 100 USDC.
Other three digital assets in this phase are Binance’s native coin BNB, Ethereum Classic (ETC), and USDT.
The annualized interest rate on BNB has come down from 15% to 10% — one of the digital assets with the highest annualized interest rate — while that of USDT, and ETC remain the same at 10% and 7% respectively for the 14-day fixed term period.
Moreover, “BNB used in lending products still counts towards both the BandProtocol token sale & the 200,00,000 JEX token airdrop snapshots,” stated the exchange.
The subscription period for this phase is from Sept. 11 6:00 AM (UTC) to Sept. 12 0:00 AM (UTC). As for interest calculation period, it is from Sept. 11 6:00 AM (UTC) to Sept. 25 6:00 AM (UTC).