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Binance Lending Products to Launch Its Ninth Phase on October 16
October 14  |  2 min read

Binance to Launch Its Lending Products Platform’s Ninth Phase

The COIN360 Editorial Team

Today, Binance announced it will be launching the ninth phase of Binance Lending Products on Oct. 16 at 12:00 PM (UTC) and it will include BNB, BTC, BUSD, ETH, MATIC, and USDT. The platform’s eight phase was launched last Thursday.

Per the announcement, the 14-day fixed term lending products will be added to the platform this Wednesday, and the subscription period will last until Thursday Oct. 17 at 00:00 AM (UTC). The subscription format will follow the basis of first-come-first-served and the interest calculation period will complete the 14 days on Oct. 30 at 12:00 PM (UTC).

The ninth phase products, which are fewer than the previous phases’, and interest details can be seen on the following table:

Binance Lending Product Details

Last week Binance started accepting fiat on-ramp with Chinese payment provider Alipay and messenger WeChat. Changpeng Zhao, Binance CEO, stated that the exchange wasn’t working directly with the aforementioned companies, but that users could use those services for payments. Alipay banned all over-the-counter (OTC) transactions with cryptocurrencies last year, and after Zhao’s announcement, the company soon replied that all crypto-related transactions made using the payment provider would be stopped immediately, as they monitor OTC transactions closely to ensure government policies are complied with.