The worldโs leading digitalย currency exchange โ Binanceย Cryptoย exchange โ is launching a new Non-Fungibleย Tokenย (NFT) loan feature. It is designed to enable users to borrow digitalย currency, using their non-fungible cryptoย tokens as collateral.
- Binanceย Cryptoย exchange continuesย its effort in the world of non-fungible tokens.
- Reportsย by a newsย release shared withย CryptoPotato,ย the exchange is launching a new feature. It will allow users to borrow cryptocurrency while using their Non-Fungibleย Tokenย (NFTs) as collateral.
- Nonetheless, it is worth keepingย inย mindย that the loans will only be available with select high-profile Non-Fungibleย Tokenย (NFT) projects.
- These include the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles.
- Nonetheless, the exchange has indicatedย that more collections are expected to be added in the near future. Speaking on the matter, Mayur Kamat said:
Weโve added a host of features that make it a one-stop shop for Non-Fungibleย Tokenย (NFT) trading and financial services for our community. We already have minimalย charges and the Binanceย Cryptoย exchange peace of mind, now Non-Fungibleย Tokenย (NFT) loans will add a newย type of liquidity for Non-Fungibleย Tokenย (NFT) holders, allowing them toย joinย the market without having to let go of their precious NFTs.
