Home Cryptocurrency News Binance Announces Launch of Latest Phase of Its Lending Products

Binance Announces Launch of Latest Phase of Its Lending Products

Binance has decided to launch the 18th phase of Binance Lending Products beginning from March 24, 2020, at 12 noon. Binance will make available the 30-day fixed-term lending products.

The format for subscription will be the first-come-first-served basis. The subscription period will begin from March 20, 2020, at 12 PM and will last till March 25, 2020, till 12 PM.

The interest calculation tenure will begin from March 25, 2020, at 12 PM and last till April 24, 2020, till 12 PM. The interest payout time will be instantly after the loan term gets matured.

Here are lending product details. The name of the digital asset is ARPA and the term to maturity is 30 days. The total subscription cap is 10,000,000 ARPA and the individual cap is 500,000 ARPA. The annualized interest rate is 15 percent. The lot size is 20,000 ARPA. And, interest per lot at maturity is 246.575342 ARPA.

Meanwhile, the amount subscribed to Binance lending products won’t get their equivalent staking rewards.

Binance is a leading global cryptocurrency exchange that offers an ideal platform for trading of over 100 cryptocurrencies. Binance is now considered as one of the biggest cryptocurrency exchanges all across the globe as far as trading volume is concerned.

The goal of Binance is to boost the freedom of money all over the world. And, the company thinks that by spreading this freedom it will help in improving lives world over.

Timmy Murphy
Timmy is a crypto and finance analyst. He deals with finance news-stories. He has completed his graduation in accounting and Finance. He is also a blogger and is famous for his finance blog. For any issues, feel free to contact him at email: timmy@forexnews.world

Must Read

Nevermind The Ripple Lawsuit: Digivault Becomes First Accredited Custodian To Support XRP

The year 2021 can barely be described for Cryptocurrency in words. The value undoubtedly increased compared to the previous three years, but it ended...

What Is Polygon (MATIC) & Why Is It So Important to Ethereum?

Introduction Polygon is a highly appreciated secondary solution of scaling for ETH Blockchain. These solutions work best for the existing network of Blockchain instead of...

Anonymous Wallet Gets Over $15 Million Worth of Dogecoin

Dogecoin starts the year with a fresh start as the first week itself witnessed a large activity. The reports from DogeWhaleAlert state that around...

Diversify Your Investments with Banxso’s Commodities Trading Services

Overview of Commodities Market In layman's terms, a commodity is an economic good that holds complete or significant fungibility, meaning it can be bought, sold,...

Trading Has Never Been Simpler. A Deep Dive Into Short-Term Contract Platforms

Many people believe that trading digital assets is for a reserved, tech-savvy few. This notion is understandable as many trading platforms and models are...