1. BITBILIHome
  2. Article

Binance expands loan services with Shiba Inu as a collateral asset

• 37 views

TL;DR Breakdown

  • Binance expands Flexible and VIP Loan services with 22 new assets.
  • Shiba Inu, Compound, and Theta Network were added as collateral options on Binance.
  • Speculation grows about Binance listing the BONE token from Shibarium.

Description

August 4th marked a milestone for the crypto community as Binance, the world’s leading cryptocurrency exchange, unleashed its latest move in decentralized finance. In a strategic expansion, Binance‘s Flexible and VIP Loan services now include 22 additional loanable and collateral assets. Among the newly revealed collateral assets, Shiba Inu, Compound, and Theta Network have caught … Read more

August 4th marked a milestone for the crypto community as Binance, the world’s leading cryptocurrency exchange, unleashed its latest move in decentralized finance.

In a strategic expansion, Binance‘s Flexible and VIP Loan services now include 22 additional loanable and collateral assets. Among the newly revealed collateral assets, Shiba Inu, Compound, and Theta Network have caught the attention of eager investors.

The Flexible Loan service, known for its user-friendly approach, supports eight more loanable assets, including AUCTION, PYR, ILV, KNC, YGG, GAS, CELO, and IRIS. Simultaneously, the VIP Loans have opened their doors to NKN, FARM, DIA, YGG, OGN, and ACA, welcoming them as eligible collateral options. This move is expected to bring more liquidity and flexibility to the crypto borrowing landscape, catering to veterans and newcomers alike.

In an additional statement, Binance announced the addition of XEM as a borrowable asset on Cross Margin. The XEM/USDT currency pair can now be traded on the cross-margin market, presenting new trading opportunities for savvy investors.

The recent buzz around Binance continues. Speculation is mounting that the BONE token, linked to the upcoming Layer-2 blockchain, Shibarium, might soon secure its spot on the prestigious Binance exchange.

Following the successful launch of the Shibarium testnet, PuppyNet, BONE has already been listed on several major exchanges like OKX, Huobi, and Crypto.com. These successes undeniably indicate the growing interest in Shibarium and its native token, BONE.

The anticipation is reaching a fever pitch, with the impending release of the Shibarium mainnet expected in August. According to Shytoshi Kusama, the mastermind behind the project, an August release is within reach, fulfilling a crucial condition for Binance to list new cryptocurrencies.

The decision to expand loan services and potentially list the BONE token on Binance comes as the crypto world continues to experience unprecedented growth. Besides offering more choices for borrowing and collateralizing assets, Binance’s moves signify their confidence in the future of decentralized finance. 

Moreover, this step by Binance will significantly impact the crypto market, attracting more attention and investments into these newly supported assets. As the crypto space evolves, Binance remains at the forefront, constantly innovating and seeking opportunities to empower its user base.

The recent moves by Binance have stirred excitement within the crypto community, promising more flexibility and opportunities for traders. With Shibarium’s mainnet on the horizon, the potential listing of the BONE token on Binance could be a game-changer. As the crypto world evolves, Binance is determined to lead the charge toward a more inclusive and dynamic financial future.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Binance expands loan services with Shiba Inu as a collateral asset

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月4日 22:44
Next 2023年8月5日 00:06

Related articles

  • Democratic congressman Ritchie Torres takes on SEC over crypto industry

    TL;DR Breakdown Representative Ritchie Torres criticizes SEC’s crypto regulation as a “war on the whole industry.” Torres proposes FIT Act to reform the crypto market structure and define SEC’s jurisdiction. Crypto assets may shift to CFTC oversight upon demonstrating decentralization. Description Representative Ritchie Torres (D-CA) has taken a stand against the U.S. Securities and Exchange Commission (SEC) in what he calls a “war on the whole industry” in the cryptocurrency space. On July 28, Torres publicly criticized the regulatory agency’s approach under Chair Gary Gensler, accusing the SEC of “regulation by enforcement” and imposing arbitrary actions … Read more Representative Ritchie Torres (D-CA) has taken a stand against the U.S. Securities and Exchange Commission (SEC) in what he calls a “war on the whole industry” in the cryptocurrency space. On July 28, Torres publicly criticized the regulatory agency’s approach under Chair Gary Gensler, accusing the SEC of “regulation by enforcement” and imposing arbitrary actions on crypto innovators. In response to these concerns, Torres has put forth the Financial Innovation and Technology (FIT) for the 21st Century Act. This proposed legislation…

    Article 2023年7月29日

  • Nigeria’s President-elect Bola Ahmed Tinubu criticizes central bank’s interest policy and announces key economic decisio

    TL;DR Breakdown Nigerian President Bola Ahmed Tinubu criticizes the Central Bank of Nigeria’s aggressive interest rate policy, deeming it “anti-people” and “anti-business.” Tinubu announces the scrapping of the fuel subsidy, a long-standing policy that has significantly burdened Nigeria’s finances. Tinubu emphasizes the need for lower interest rates to stimulate investment and consumer spending while also pledging to review the central bank’s currency demonetization policy. In his inaugural address at Eagle Square, Abuja, Nigerian President Bola Ahmed Tinubu expressed his concern over the Central Bank of Nigeria’s (CBN) aggressive interest rate policy, which he deemed “anti-people” and “anti-business.” Tinubu, who was recently sworn in as the country’s president, emphasized the need for lower interest rates to stimulate investment and consumer spending in Nigeria. Lower interest rates for increased investment and consumer spending Tinubu’s remarks followed the CBN’s decision to raise the benchmark interest rate by 50 basis points. The central bank has defended its policy as necessary to combat rising inflation, which reached a 17-year high of 22.22% in April. However, Tinubu, whose presidential campaign focused on reducing unemployment and boosting…

    Article 2023年6月4日

  • Lawyer arrested for laundering OneCoin funds denied a new trial

    TL;DR Breakdown OneCoin lawyer Mark Scott has been denied a new trial in his money laundering case. The Judge is set to move forward with sentencing after the dismissal. Description In a significant development, a U.S. judge has denied a request for a new trial by Mark Scott, a lawyer implicated in the laundering of $400 million from the notorious OneCoin crypto pyramid scheme. This ruling paves the way for the sentencing of the 54-year-old Scott, despite revelations of a key prosecution witness, Konstantin Ignatov, … Read more In a significant development, a U.S. judge has denied a request for a new trial by Mark Scott, a lawyer implicated in the laundering of $400 million from the notorious OneCoin crypto pyramid scheme. This ruling paves the way for the sentencing of the 54-year-old Scott, despite revelations of a key prosecution witness, Konstantin Ignatov, admitting to lying in court. Mark Scott had been accused of playing a pivotal role in Onecoin’s fraudulent activities. Investors lost $4 billion in the OneCoin scam Prosecutors alleged that he earned $50 million by establishing a…

    Article 2023年9月21日

  • PayPal’s stock prices drop by 3% after new CEO announcement

    TL;DR Breakdown PayPal’s announcement of a new CEO led to a 3% decrease in stock prices. Market reception to successor Alex Chriss is lukewarm, contrasting with outgoing CEO Dan Schulman’s strong crypto advocacy. The payment giant’s recent crypto token launch faces scrutiny amid regulatory uncertainties. Description Following the unveiling of PayPal’s forthcoming CEO, the payment behemoth recorded a downturn in its stock prices. Just after the revelation, the stock valuation decreased by 3%, positioning it just shy of the $60 benchmark. The looming exit of Dan Schulman, steering the company for nearly a decade, is believed to be the trigger behind … Read more Following the unveiling of PayPal’s forthcoming CEO, the payment behemoth recorded a downturn in its stock prices. Just after the revelation, the stock valuation decreased by 3%, positioning it just shy of the $60 benchmark. The looming exit of Dan Schulman, steering the company for nearly a decade, is believed to be the trigger behind this market reaction. Speculations around his successor led to a marked decrease in the company’s valuation, bringing its market capitalization to…

    Article 2023年8月17日

  • South American countries to back away from the USD

    TL;DR Breakdown Brazilian President Luiz Inácio Lula da Silva has proposed a revival of the Union of South American Nations (Unasur) to strengthen regional economic integration. Lula urges the creation of regional monetary units, reducing reliance on external currencies like the US dollar. As the global economy continues its dance with uncertainty, South America is poised to carve its own financial destiny. Leading the charge is Brazilian President, Luiz Inácio Lula da Silva, who is calling upon regional counterparts to revitalize the Union of South American Nations (Unasur). The aim is to foster financial independence, creating regional monetary units that lessen the reliance on extra-regional currencies, such as the US dollar. A shared monetary vision In the inaugural speech at the South American summit held in Brazil, Lula emphasized the importance of collective strength in tackling modern geopolitical challenges and the intricacies of the global economy. He stressed the need to tap into South America’s shared identity and integrate it into the monetary arena. The proposed solution involves more efficient compensatory mechanisms and the conception of a common trade reference…

    Article 2023年6月5日
TOP