According to the announcement from Binance, the platform has introduced new loanable and collateral assets on its Binance Loans (Flexible Rate) and VIP Loan services. The new collateral assets available for Binance Loans (Flexible Rate) include KernelDAO (KERNEL) and Spark (SPK). Meanwhile, the Binance VIP Loan service has added Treehouse (TREE) and Arena-Z (A2Z) as new loanable assets, alongside KernelDAO (KERNEL) and Spark (SPK) as collateral options.
Binance Loans (Flexible Rate) offers users the ability to complete loan orders while using cryptocurrencies in existing Simple Earn Flexible Products subscriptions as collateral. This service provides flexibility by allowing users to borrow cryptocurrencies without committing to a specific loan term, while also earning Real-Time APR rewards through Simple Earn Flexible Products. The loan rates are updated every minute, and users can place a loan order with a minimum equivalent of 1 USDC.
The Binance VIP Loan service caters to large personal and institutional clients, offering over-collateralized loans with competitive rates and terms. This service aims to provide greater liquidity for long-term investment funds, leveraged trading, and hedging strategies. Users interested in VIP Loan can contact the Binance VIP Key Account Coverage team for more information.
To access the new Binance Loans (Flexible Rate) features, users must update their Binance App to iOS v2.78.0 or Android v2.78.0, as older versions no longer support new loan orders. For further details, users can refer to the announcement and explore the loan data for the latest interest rates and a complete list of loanable and collateral assets.