Binance Introduces Lite Loan to Mitigate Crypto Borrowing Risks
Binance has launched Lite Loan, a cryptocurrency-backed loan product that enables qualified customers to pledge Bitcoin and borrow up to $1,000 in USDT.
Lite Loan eliminates price-triggered liquidation risk during the first 30-day loan term, allowing users to borrow with confidence without continuously monitoring the price of Bitcoin.
Users can continue to benefit from Simple Earn returns while obtaining liquidity by pledging Bitcoin that they have already subscribed to Simple Earn Flexible products as collateral for Lite Loans.