Binance Wallet launches Web3 lending feature, integrating Venus protocol

According to the official announcement, Binance Wallet has launched a new on-chain lending feature called "Web3 Loan" on its Web3 Earn page. This feature allows users to directly use existing assets as collateral to borrow cryptocurrencies, unlocking liquidity and exploring new yield strategies through integration with the leading lending protocol Venus on the BNB Chain.

The initially supported collateral assets include BTCB, ETH, USDT, etc., while the borrowable assets include USDT, USDC, and BNB. Binance Wallet will soon launch exclusive lending activities with Venus, offering rewards and preferential interest rates.