CoinLoan unveils plans to leverage BNB Smart Chain

8 June 2022

in BNB

Reading Time: 3 mins read

TALLINN , ESTONIA, June 08, 2022 (GLOBE NEWSWIRE) — Clients of CoinLoan can now enjoy a wider range of available digital assets. The platform has added the Binance utility token BNB, one of the five largest cryptocurrencies in terms of market capitalization. It is the first move to the large-scale integration with the BNB Smart Chain that is quite popular with crypto users thanks to a number of benefits:

It enables developers to create powerful apps.
It allows users to trade, hold, and otherwise manage their digital assets.
It ensures large capacity and low latency, meaning that transactions within the network are confirmed fast.

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No doubt, this integration will bring ample opportunities to CoinLoan’s clients, as transactions will be handled in a shorter span of time. Besides, the introduction of the BEP20 network will make it possible to transfer assets between exchanges. Finally, this blockchain boasts high scalability and low gas fees, being a good alternative to the Ethereum network.

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BNB can now be used across the whole range of the CoinLoan products:

Instant Loans, with BNB used as collateral, allow clients to leverage their trades and get loans in USDT, USDC, BUSD, TUSD, PAX, DAI, EUR, GBP, BTC, WBTC, and ETH.
Interest Account provides clients with an opportunity to get 5.2% APY on BNB, while holders of CLT are eligible for an increased rate of 7.2% in total.
Crypto Exchange enables clients to exchange BNB for other cryptocurrencies or fiat money.

Commenting on the new offering, CoinLoan’s Product Owner Eugene Zomchak said: “Adding BNB to our scope is the right decision, as it is one of the most popular and capitalized assets, and it will be available across all the products on the CoinLoan platform. We are also preparing for the future integration with the BEP-20 network, so our customers will get all the advantages of using the BNB Smart Chain, such as fast and inexpensive transactions for compatible assets in the near future.”

CoinLoan prioritizes innovation and constant extension of the choice of instruments, striving to create the most convenient environment for its clients. The platform’s range of products, including Wallet, Crypto Exchange, Interest Account, and Instant Loans, is intended for both private and corporate clients. Be it a short-term strategy or a long-term one, CoinLoan products provide comprehensive solutions for leveraging transactions with crypto.

About CoinLoan

CoinLoan is an EU-licensed crypto business that offers Instant Loans with cryptoassets as collateral, Interest Account, and Crypto Exchange. It also provides corporate services. The highest security standards and assets insurance mean that both institutional and private customers benefit from the highest levels of protection.

CoinLoan offers highly-competitive loan and APY rates, transparent pricing, and 24/7 human customer support service that serves good for high customer retention and satisfaction. The platform allows swapping and managing a comprehensive and growing range of cryptocurrencies, including its native token and fiat currencies.

The company is focused on continuous innovation through state-of-the-art technology and partnerships, bringing customers constant improvements and possibilities within the crypto world.