What's Hot

    Binance Freezes $4.4 Million Worth of Crypto

    May 27, 2023

    Binance Partners with Gulf Innova to Launch Exchange in Thailand

    May 27, 2023

    Microsoft and Visa Set to Participate in Brazil CBDC Pilot

    May 26, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      Binance Freezes $4.4 Million Worth of Crypto

      News May 27, 2023
      Recent

      Binance Freezes $4.4 Million Worth of Crypto

      May 27, 2023

      Binance Partners with Gulf Innova to Launch Exchange in Thailand

      May 27, 2023

      Microsoft and Visa Set to Participate in Brazil CBDC Pilot

      May 26, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Business»Bybit Offering Crypto Lending Services
    Business

    Bybit Offering Crypto Lending Services

    Anietie DavidBy Anietie DavidMay 2, 2023Updated:May 2, 2023No Comments2 Mins Read
    Bybit Offering Crypto Lending Services
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Bybit is the latest crypto platform to offer its consumers an in-house crypto lending service.

    The Dubai-based exchange announced the service’s launch on May 2, rewarding customers who deposit crypto through the platform’s new offering of interest incentives. The program promises hourly interest payouts from lending pools, and lenders may deposit and redeem lent cryptocurrency tokens with no lock-up periods.

    Meanwhile, Bybit exchange borrowers can take out loans to access funds for various trading options on the platform. Borrowers must deposit collateral assets equivalent to or higher than the loan amount to protect lenders’ investments.

    According to a statement issued by Bybit CEO and co-founder Ben Zhou, the crypto exchange intends to provide consumers with a way to convert their cryptocurrency. Advanced traders can access capital from lenders for more advanced trading options on the exchange.

    Bybit Joins List of Crypto Lenders

    Bybit is the most recent major cryptocurrency exchange to provide cryptocurrency loan services. While only a few major cryptocurrency exchanges provide specialized lending services, the decentralized finance (DeFi) space offers a plethora of opportunities for cryptocurrency users to earn interest on loaned digital assets.

    Binance offers a few services that allow customers to earn interest on their bitcoin investments. KuCoin also provides loan services on a broad range of tokens. OKX provides customers with a loan service that allows them to borrow cash against deposited tokens, but it does not allow user lending on its exchange platform.

    Following a stern warning from the US Securities and Exchange Commission, cryptocurrency exchange Coinbase has abandoned plans to launch its own lending service in September 2021. The offering was classified a security by the US regulator, with Coinbase guaranteeing 4% yearly returns on USDC deposits.

    Kraken also ran afoul of regulatory restrictions in the United States, which resulted in a $30 million settlement with the SEC in February 2023 over the operation of its crypto asset staking-as-a-service business.

    Blockchain Bybit Crypto Exchange Cryptocurrency
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleJPMorgan to Purchase First Republic Bank
    Next Article FBI and Ukraine Seize Exchanges on Money Laundering Allegations
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    Binance Freezes $4.4 Million Worth of Crypto

    May 27, 2023

    Binance Partners with Gulf Innova to Launch Exchange in Thailand

    May 27, 2023

    Microsoft and Visa Set to Participate in Brazil CBDC Pilot

    May 26, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    French Lawmakers Looking to Relax Strict Crypto Regulations 

    May 26, 2023

    Russian Lawmakers Propose Changes to Digital Ruble Bill

    May 24, 2023

    Japan Set to Enforce Strict Crypto Anti-Money Laundering Laws

    May 24, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.