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Binance Loans adds BCH, LTC, and XRP as collateral options; P2P supports INR, IDR

Image by Binance on Twitter

Thu, 16 Apr 2020, 01:56 am UTC

Crypto exchange Binance has made more updates on its platform.

In a recent announcement, Binance confirmed that users now have more collateral options because it just added Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP) on the Binance Loans platform.

Binance guarantees users that Binance Loans will continue to be 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 internal risk management.

Binance also added support for Indian Rupees (INR) and Indonesian Rupiah (IDR) on its peer-to-peer (P2P) platform. Thus, users can now buy and sell Bitcoin (BTC), Tether (USDT), Ethereum (ETH), BNB, Binance USD (BUSD), and EOS using the two currencies without fees when making the transactions on the Binance P2P platform or Binance mobile app.

Meanwhile, Binance has temporarily disabled Visa and Mastercard payments in the “Pay with Bank Card” feature. The service is temporarily not available in Argentina, Brazil, Colombia, Hong Kong, India, Indonesia, Israel, Kazakhstan, Kenya, Malaysia, Mexico, Nigeria, Peru, Philippines, Singapore, South Africa, South Korea, Switzerland, Taiwan, Turkey, and Vietnam.

Those who are using the service outside the aforementioned countries will enjoy it as normal. The restrictions do not apply to Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Republic of Cyprus, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, UK, and Ukraine.

Binance also added more fiat currencies to buy crypto using Visa credit and debit cards. Binance users can now use Colombian Peso (COP), South Korean Won (SKW), Kenyan Shilling (KES), Kazakhstan Tenge (KZT) and Peruvian Sol (PEN). It also accepts Israeli Shekel (ILS), Argentine Peso (ARS), Malaysian Ringgit (MYR), New Taiwan Dollar (TWD), Swiss Franc (CHF), Singapore Dollar (SGD), and the Philippine Peso (PHP).

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