RATE Group | Binance (BNB) Partners Ethereum-Dependent Startup, Libra Credit, On Loans collateralized…
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Binance (BNB) Partners Ethereum-Dependent Startup, Libra Credit, On Loans collateralized…

28 Jul Binance (BNB) Partners Ethereum-Dependent Startup, Libra Credit, On Loans collateralized…

Posted at 16:55h in Ethereum News by

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Binance Lab, the investment section of the world’s largest cryptocurrency exchange, has made an undisclosed investment in Libra Credit, a decentralised cryptocurrency asset financial service firm.

The partnership will give room for BNB holder to have access to loans that are collateralised by BNB.

As part of the relationship, Libra Credit will lend fiat and crypto denominated assets to users who pledge BNB as collateral, a statement by Libra Credit has indicated.

Binance Labs, an arm of Binance, is a social impact fund which is saddled with the responsibility of incubating, investing and empowering projects, entrepreneurs, and communities that are affiliated with cryptocurrency and blockchain.

The purpose of the collaboration is to contain the growing global demand for liquidity of crypto assets based on the Ethereum blockchain.

The statement indicates that “Libra Credit aims to standardize distributed lending ecosystem which will expedite credit at anytime and anywhere, adding…

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