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Binance offers privacy coins lending while other exchanges delist them
NEWS
September 17  |  2 min read

Binance Launches Privacy Coins Lending, While OKEx and Upbit Delist Them

The COIN360 Editorial Team

The Binance exchange has just revealed that the fifth phase of Binance Lending will be launched on the 20th of September at 6:00 AM (UTC). In this phase, clients will be granted access to lending options with 3 more privacy coins for a fixed term of 14 days.

The Binance Lending service already offers a suite of crypto lending options available in Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and more. According to the announcement the lending services will now be available in three more privacy coins – XMR, ZEC and DASH – with 3.5% annual interest rate, interest per lot at maturity 0.001342, and a 14 days term of maturity.

It is hardly surprising that the crypto community reacted positively to the Binance CEO’s announcement on Twitter when he promoted the platform’s new additions by asking his followers if privacy is a fundamental right.

Binance CEO announces privacy coins lending products

While Binance is opening doors for the adoption growth of privacy coins, other Asian exchanges like Okex or Upbit are forced to delist them or put warnings on some of them due to the new global standards enforced by the Financial Action Task Force. The Korean arm of Okex shared last week that starting Oct. 10, the exchange will no longer support trading in Monero (XMR), Dash, Zcash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC).