Binance Pool looking to support bitcoin miners through loans.
Presenting the initiative this week, the coin trading platform also unveiled that Binance Pool intends to launch cloud mining products.Binance, the world’s leading crypto exchange by daily trading volume, has announced a plan to extend financial support to companies involved in the extraction of cryptocurrencies. The lending project was recently unveiled by the platform’s mining pool.
In light of current market conditions, Binance Pool is launching a $500-million lending project to support crypto miners and digital infrastructure providers. To gain access to the loans, borrowers would have to accept a set of terms and conditions like an 18 to 24-month term and interest rates ranging between 5% and 10%. Miners will also be required to provide security satisfactory to Binance, either physical or in the form of digital assets.
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