Binance Introduces Monero, Zcash and Dash Lending
September 27, 2019
Binance Introduces Monero, Zcash and Dash Lending
September 27, 2019

Binance exchange has declared that from September 20 onwards, it would start offering three new coins as part of the fifth phase in the firm’s crypto lending project.

Presenting New Altcoins

It has been reported that Binance Lending Service, which was launched on August 28, 2019, is going to introduce three altcoins on its platform: Zcash (ZEC), Dash (DASH), and Monero (XMR), which are known for its privacy.

Binance also revealed that it will offer a 14-day fixed-term lending period following subscription from September 20 to 21. The company’s statement also said that all tokens will have an annualized interest rate at 3.5%

Monero, Dash and Zcash

Shifting Rates for Project Phases

Binance Coin (BNB), the platform’s native token, offered the highest-yielding annualized interest rate at 15% during its preliminary phase. Later in the fourth phase, the firm offered 10% and 6% interest rates for the crypto.

Likewise, for Bitcoin (BTC), the platform set the interest rate at 3% as well as a maximum subscription of 2,000 BTC, similar to other cryptos such as Tether (USDT), Ether (ETH), and Ethereum Classic (ETC).

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For the fifth phase, however, it declared that the interest calculation period will be from September 20 to October 4.

Changpeng Zhao, CEO of Binance

Changpeng Zhao, the CEO of Binance, has recently resolved rumors that a hacker had attacked the firm’s Bitcoin futures platform, which was introduced on September 2, 2019.

Similarly, on September 17, 2019, Binance also reportedly made a strategic investment in a Chinese company for the first time since it left China because of the local cryptocurrency trading ban announced in 2017.


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Ishita Bora

Ishita Bora is a content creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, and guides.
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