Binance Loans Adds Two Digital Assets
Binance has added two digital assets to its Binance Loans platform to cover more registered traders who seek to acquire funds from the platform. The digital assets that have been added are BAL and BAND. Binance announced the news through a post on its official website.
Binance Loans is a supportive hand of Binance that provides support for interest rates, crypto assets, maximum loan limits, and collateral assets. The offerings are based on market conditions and internal risk management.
Users who register themselves on Binance can apply for Binance Loans, and there is no restriction except for those who have not registered on the crypto exchange platform. Cryptocurrencies supported for borrowing Binance Loans are BTC, ETH, and BNB, among many others.
After the announcement, BAL and BAND have also joined the list of cryptocurrencies supported by Binance. The loan terms vary in five categories with a timeline of 7 days, 14 days, 30 days, 90 days, and 180 days. A loan can always be repaid before the due date without attracting any penalty or additional interest.
Interest on the loan is calculated hourly from the time the registered user takes the loan. A clock of less than an hour accounts for the interest of one hour.
Users have to add more collateral if the LTV, value of their loan to the value of their collateral goes higher than the marginal call LTV. Binance Loans may require repayment of the loan instead of adding more collateral, depending on the market conditions.
Binance Loans provides an overdue duration of 72 hours for loans with a duration of 7 & 14 days and an overdue duration of 168 hours for loans with 30, 90, and 180 days. An hourly rate in the multiple three is applied during the overdue duration. Unpaid loans after the expiration of overdue duration lead to the liquidation of the collateral.
Loans acquired from the platform can be withdrawn or used to trade on Binance subject to the qualification criteria.Traders interested in joining a reliable crypto platform should look at a research-based Binance review before taking a deep dive.
Binance is a global crypto exchange platform that was founded in 2017. It is headquartered in Malta, with BNB as its native token. More than 100 cryptocurrencies are listed on Binance, and at least 100 trading pairs are available for the traders.
Based in Hong Kong, Binance has spread its operations throughout the world by constantly focusing on being user-friendly and offering unique features.
eWallet is a feature on Binance that helps the registered users to store their digital holdings and earn interest on top of them. Mobile trading has made it more convenient for traders to access their portfolio, order the execution of a trade, and review the analytical chart to understand the trading condition better.
V2B Labs joins the Blockchain
V2B Labs had an amazing time being part of Ideathon Pitch Day, a blockchain event organized by the Algorand in Tokyo on last May 14, 2022.
On May 14, 2022, Algorand successfully organized the Blockchain Business Idea Pitch, joined by well-known Japan Accelerator mentors, overseas Algorithm founders and VCs, all specializing in cryptocurrency and blockchain technology.
V2B Labs was proud to participate in the event as judges. This was a once-in-a-lifetime opportunity for V2B Labs to dive deeper into the Japanese blockchain market at the Business Idea Pitch Day. Japan is a notable leader in blockchain in Asia and the world recently being called, “the golden mine for blockchain adoption”. Its embrace of blockchain technology is admirable for countries that intend to foster crypto adoption.
This Idea Pitch Day was joined by some of the most promising and popular blockchain firms in Japan such as: CurveGrid, IncubateFund, EXDmusic, etc, which created a great networking opportunity as V2B labs sought to spread its brand presence to the blockchain global community.
The event exceeded expectations with the participation of up to 10 blockchain startup projects focusing on the biggest blockchain trends such as the Metaverse, NFTs, GameFi, Protocols, etc.
A highlight of the Pitche Day is the level of competitive ideas presented by the teams which was emphasized by their inclination to blockchain as a mandatory technology for the future. V2B as part of the judging team picked the following teams as the Top 5 winners:
DENTSU
SOUQ
Visual Coin Team
Borcety
AIGRAM
FTX Launches Stock Trading Platform
The United States-based subsidiary of global cryptocurrency trading platform FTX is launching a stock trading platform to allow investors to trade cryptocurrencies alongside stocks.
FTX Debuts Stock Trading in the U.S.
West Realm Shires Services, the owner and operator of FTX U.S, announced on May 19th the upcoming launch of ‘FTX Stocks’, a stock trading service offered directly through the FTX U.S. trading app.
FTX Stocks aims to offer investors a full suite of asset class options in a one-stop investment shop. As part of a statement, FTX U.S. President Brett Harrison outlined:
“With the launch of FTX Stocks, we have created a single integrated platform for retail investors to easily trade crypto, NFTs, and traditional stock offerings.”
FTX to Offer Commission-Free Trading for Stocks
The beta launch of FTX Stocks will be made available to select U.S. customers, who will be chosen from a waitlist. FTX further disclosed that all trades on FTX Stocks will be free.
The exchange will also charge no fees for brokerage accounts, and no minimum balances will be required to operate an account.
On the other hand, the platform will require its users to fund their accounts with stablecoins like Circle’s USDC, Binance’s Binance USD (BUSD), and Tether’s hugely popular USDT.
Following the complete rollout of FTX Stocks, all U.S. users will have full access to investments in hundreds of stocks and ETFs.
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