In an important announcement for prospective investors and borrowers in the cryptocurrency finance space, Binance has announced that it has added NEO on its borrowing platform. The addition of the NEO asset on one of the largest cryptocurrency borrowing platforms is sure to give impetus to the stream of decentralized finance by inviting more investors and borrowers to take a plunge into the segment. It is also going to be beneficial for the overall adoption of crypto among the masses.
According to the announcement, borrowers can avail special offers on the NEO assets to get a 20% discount on the daily interest rate of 0.04%. Remember, this offer is available only between 3:00 AM (UTC) on 2020/09/25 to 3:00 AN (UTC) on 2020/10/02. This promotional offer is expected to yield desirable results in encouraging more and more people to come into the domain of decentralized finance.
For your better understanding, the cryptocurrency borrowing platform offered by Binance is one of the largest decentralized finance platforms available in the world. You can avail of a range of services here, and some of the significant features of this platform include the likes of supporting various cryptocurrency assets, offering the facility of collateral assets, maximum limits on the loans, and low and affordable interest rates, among others.
The addition of the NEO on the cryptocurrency borrowing platform is a step that will undoubtedly give new impetus to the field of cryptocurrency finance. The expected outcome should enhance the coverage of cryptocurrency assets among the target audience while on the broader level. It will make sure that the cryptocurrency mass adoption will gain further momentum. Stakeholders need to innovate and offer novel services to customers so that interest in the cryptocurrency domain remains intact for a longer period.