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%
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.
For the fifth phase, however,it declared that the interest calculation period will be from September 20 to October 4.
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 is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. 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, featured articles, and guides.
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