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Binance Savings adds XRP and XLM to Flexible Deposits

Mon, 13 Apr 2020, 01:46 am UTC

Crypto exchange Binance has continued to expand its service.

In a recent announcement, the firm said that it has added XRP and XLM to the list of assets supported on Flexible Deposits for Binance Savings. Flexible Deposits is a value-added service to Binance users who hold idle digital assets in the platform.

The individual max limit for XRP is 50,000,000 XRP and 200,000,000 XLM for XLM.

Aside from this, Binance has introduced Binance Loans service that helps users leverage existing crypto assets as collateral for loans, borrow from a large range of crypto assets, select from a range of varying loan periods and get low-interest rates and receive instant approval.

The exchange also offers all Binance Loans service users until April 14, 2020, 0:00 AM (UTC) at 20% discount on daily interest rate with the lowest interest rate being 0.0224%.

Users can loan either Binance USD (BUSD) or Tether (USDT). The standard interest for BUSD for 7 days is .028% but it will be reduced to 0.0024% with the 20% off interest rate promotion.

Binance Loans will remain flexible and it will actively provide a varying range of options for supported crypto assets, interest rates, collateral assets, and maximum loanable limits based on market conditions and its internal risk management. Once the promo period ends, the daily interest rate will return to the standard rate.

Meanwhile, software company Steamr has partnered with Binance. Following their integration, Binance’s real-time trades and quotes data are made available as a free product on the Steamr permissionless Marketplace. Also, this makes the firm the first exchange with market data being distributed over a decentralized network.

Binance also partnered with Brave Software. Their partnership will enable Brave users to enjoy seamless and convenient crypto trading through Binance via the Brave browser.

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