Binance has expanded the range of collateral assets eligible for its Flexible Rate Loans and VIP Loan services. The update includes the addition of new assets to the Flexible Rate Loans portfolio, such as Official TRUMP (TRUMP), Sonic (S), Paint the Squirrel (PNUT), Virtuals Protocol (VIRTUAL), and ssv.network (SSV). Similarly, the VIP Loan service has incorporated Defi App (HOME) and Resolv (RESOLV) as new eligible collateral options.
The Flexible Rate Loan product is designed to enable users to borrow funds by leveraging their cryptocurrency holdings as collateral. This service, integrated within Binance’s Simple Earn Flexible product subscriptions, allows borrowers to access loans without fixed terms while simultaneously earning real-time APR rewards. Interest rates are dynamically updated every minute, and users can initiate loan requests starting from a minimum value equivalent to 1 USDC.
The VIP Loan offering caters to both individual and institutional clients, providing loans at competitive terms and interest rates with higher collateral requirements. This service aims to support long-term investments, leveraged trading, and hedging strategies by delivering enhanced liquidity. Interested parties are encouraged to contact Binance’s VIP key account coverage team for tailored assistance.
To access the new Flexible Rate Loan offerings, users must update their Binance application to iOS version 2.78.0 or Android version 2.78.0, as previous app versions do not support the latest loan order functionalities. Binance advises users to review the loan data and VIP loan sections within the app to stay informed about the current interest rates and the comprehensive list of eligible collateral assets.
Source: binance
