According to BlockBeats, on September 5, Binance’s pledge lending platform launched a fixed-term lending product according to an official announcement. Fixed-term lending is an innovative lending service with a fixed term, and users can set the interest rate independently.
Binance Fixed Loan provides users with a fixed loan service with predictable cost/return (for stablecoins). Users can set their own interest rate and lock in the borrowing cost and lending income through a fixed period. The platform can effectively match the needs of borrowers and lenders. The Fixed Loan platform adopts an over-collateralization system and supports multi-asset collateral to reduce the liquidation risk of borrowers. At the same time, the platform also has efficient automated processes, including automatic repayment and automatic renewal functions.
