On Monday (September 9), Binance announced the upcoming launch of phase three of the Binance Lending platform. 

According to Binance’s announcement, at 06:00 UTC on 11 September 2019, the following 14-day fixed-term lending products will become available:

Binance Lending Phase 3 Table.jpg

The subscription period is from 06:00 UTC on September 11 to 00:00 UTC on September 12, and the format is “first-come-first-served”. The interest calculation period begins at 00:00 UTC on September 11 and ends at 06:00 UTC on September 25. The interest will be paid out “immediately after loan term matures.”

Binance announced on August 26 that it was going to launch a crypto lending platform on August 28.

Phase one went live at 06:00 UTC on August 28, and it offered 14-day fixed term lending products for Tether (USDT), Binance Coin (BNB), and Ethereum Classic (ETC).

Phase two went live at 06:00 UTC on September 4, and it offered 14-day fixed term lending products for USDT, ETC, ADA, ETH, BTC, as well as 28-day fixed term lending products for BNB, BTC, and USDT.

Featured Image and Lending Products Table Courtesy of Binance