Binance to Cease 7-Day and 30-Day Stable Rate Loan Services

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