Binance Expands NFT and Loan Offerings

Binance Expands NFT and Loan Offerings


Binance launches new NFT loan feature, allowing users to borrow cryptocurrency using their non-fungible tokens as collateral with select high-profile NFT projects.

The world’s leading digital currency exchange – Binance Crypto exchange – is launching a new Non-Fungible Token (NFT) loan feature. It is designed to enable users to borrow digital currency, using their non-fungible crypto tokens as collateral.

  • Binance Crypto exchange continues  its effort in the world of non-fungible tokens.
  • Reports by a news release shared with CryptoPotato, the exchange is launching a new feature. It will allow users to borrow cryptocurrency while using their Non-Fungible Token (NFTs) as collateral.
  • Nonetheless, it is worth keeping in mind that the loans will only be available with select high-profile Non-Fungible Token (NFT) projects.
  • These include the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles.
  • Nonetheless, the exchange has indicated that more collections are expected to be added in the near future. Speaking on the matter, Mayur Kamat said:

We’ve added a host of features that make it a one-stop shop for Non-Fungible Token (NFT) trading and financial services for our community. We already have minimal  charges and the Binance Crypto exchange peace of mind, now Non-Fungible Token (NFT) loans will add a new type of liquidity for Non-Fungible Token (NFT) holders, allowing them to join the market without having to let go of their precious NFTs.

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