Binance Launches Bitcoin-Backed "Lite Loan" Small-Scale Lending Product

BlockBeats News, August 4th, Binance officially launched today a "Lite Loan" small amount borrowing product with Bitcoin collateral, allowing eligible users to borrow up to 1,000 USDT with BTC as collateral without selling their Bitcoin. This product is aimed at users with small, short-term funding needs. The collateralized Bitcoin can also come from the Simple Earn flexible savings product and continue to earn interest, while the borrowed USDT can be used for trading.