Binance has announced the launch of a new loan service aimed at institutional clients, offering flexible loan terms and the possibility of zero interest rates.
What is the Institutional Loan Service?
Recently, Binance CEO Richard Teng announced the introduction of 'Binance Institutional Loans', allowing large clients to borrow between $1 million and $10 million in USDT or USDC. These loans are backed by over 400 cryptocurrencies, including BTC, ETH, BNB, and SOL. They provide greater flexibility and allow clients to maintain the value of popular coins.
Who is Eligible for the Loan?
To qualify for the loan, users must be corporate clients ranked VIP 5+ or companies that Binance assesses individually. The borrowed funds can be used for margin and futures trading on Binance with up to 4x leverage. The loan process allows for quick connections to approved accounts, enabling near-instant trading operations.
New Leader for Binance in Europe and UK
As part of the loan service launch, Binance appointed Gillian Lynch as its new Head of Europe and UK. Previously, she worked at Gemini and the Central Bank of Ireland, providing her with strong expertise in both crypto and traditional finance. Her role will involve leading Binance's strategy in Europe and engaging with local regulators and governments.
With this new loan service, Binance aims to enhance liquidity access for institutional clients, offering more flexible terms and quick access to funds.
