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  • Binance launched a product that enables customers to lend their holdings in USDT, BNB and ETC.
  • Users will be lending for a fixed period of 14 days, which will diversify their holdings and generate income.

Exchange giants Binance will be offering lending denominated in three cryptocurrencies. With a fixed term of two weeks, the exchange will be offering to lend of USDT, BNB and ETC. The service which is expected to be live on the 28th of August will work as a way for customers who are holding digital assets to diversify their income.  
The company website said:

“With Lending, Binance users will be able to grow their funds by earning interest income for lending out their holdings over a specific period of time.”  

Binance Lending offers Binance users a new platform to grow their crypto portfolios beyond trading. Customers can now subscribe their funds to selected Binance Lending products and gain interest over time.  

CZ, CEO of Binance, said:  

“Binance Lending is simple and intuitive to use. Users can subscribe to any lending product and earn interest, it’s as easy as that. The interest rate for each product is guaranteed, so your crypto balance will always grow, regardless of how the market moves.”  

Binance users can choose the number of tokens they wish to allocate to the lending facility. The exchange stated that the lenders are guaranteed to retrieve funds with assured interest after the 14 days guarantee time. Binance is also planning to continue evaluating new coins for the lending facility and offer them depending on demand.