Binance to Cease 7-Day and 30-Day Stable Rate Loan Services
Felix Pinkston Aug 26, 2024 05:36
Binance will discontinue its 7-Day and 30-Day Stable Rate Loan services from September 2, 2024, while VIP Loan services remain unaffected.
Binance, one of the world's largest cryptocurrency exchanges, has announced significant updates to its loan services. Effective from September 2, 2024, at 04:00 (UTC), Binance will discontinue its 7-Day and 30-Day Stable Rate Loan services, according to an official announcement from the company.
Service Termination Details
Users will no longer be able to place new Stable Rate Loan orders or extend existing ones from the specified date. This change applies to all orders, including those made via Stable API (SAPI) endpoints. Binance has advised users to disconnect their systems from the relevant endpoints before the service termination date. However, ongoing Stable Rate Loan orders will remain unaffected and can be held until their expiry.
Impact on VIP Loan Services
It is worth noting that this service update does not impact Stable Rate orders made through VIP Loan. Users utilizing VIP Loan services can continue to do so without any changes.
Guidance and Disclaimer
Binance has highlighted that there may be discrepancies in the translated versions of the announcement, and users are advised to refer to the original English version for the most accurate information. Additionally, the company reserves the right to amend or cancel this announcement at any time and for any reason without prior notice.
As always, Binance reminds users about the high market risk and price volatility associated with digital assets. They emphasize that investments should only be made in products that users are familiar with and where they understand the associated risks. For more information, users are encouraged to consult Binance's Terms of Use and Risk Warning.
The announcement underscores Binance's ongoing efforts to review and optimize its product offerings to ensure they remain competitive and valuable for its users.
For the original announcement, visit Binance.
Image source: Shutterstock