Binance Partners with Libra Credit and offers loans for its customers who holds BNB tokens.
The new partnership of cryptocurrency exchange Binance with a decentralized digital asset financial services platform Libra Credit will offer users loans in fiat and cryptocurrencies. The loans will be secured in the BNB tokens. The new service was the result of an investment agreement signed between Libra Credit and Binance Labs, the investment arm of the largest cryptocurrency exchange. The main goal of the partnership is to meet the growing global demand for liquidity of cryptocurrencies, based on the Ethereum blockchain.
As stated in the blog of Libra Credit, the company creates a distributed credit ecosystem, designed to ensure the possibility of obtaining loans “at any time and anywhere.”
“The Libra Credit founding team has a wealth of experience and resources in financial services and payment solutions. They are committed to make long lasting impacts in the industry”, said Ella Zhang, CEO of Binance Labs.
Libra Credit plans to launch desktop and mobile applications that provide quick access to credit services for users. In May, the project completed the ICO and raised $ 26 million.
We remind, in June, Binance Labs announced plans to launch a fund to support blockchain and cryptocurrency companies. It is assumed that size of the Fund will be $ 1 billion.
A few days ago, another well-known Pundi X blockchain service, which allows developers and owners of tokens to sell cryptocurrencies to buy goods and services in retail stores around the world, announced the forthcoming listing of BNB tokens at its POS terminal Pundi X.