According to Cointelegraph, on May 2, 2023, the announcement happened
Bybit, a cryptocurrency exchange, has launched an in-house cryptocurrency lending facility for customers, as stated by Cointelegraph.
According to Cointelegraph, on May 2, 2023, the announcement happened. It’s believed that users transferring cryptocurrency using the feature will receive hourly interest payments from lending accounts. Reportedly, lenders will also be permitted to deposit and redeem loaned cryptocurrency tokens excluding lock-up periods.
Based on Cointelegraph’s information, Bybit’s borrowers can get loans to get access to funds for the platform’s trading facilities. Sources suggest that either the same or more amount of assets must be staked by borrowers with regard to the loan amount for protection of lenders’ investments.
Moreover, Cointelegraph noted that Ben Zhou, co-founder and CEO, Bybit, highlighted that the platform aims to provide a method for producing returns. Reportedly, Bybit also permits advanced traders to get capital from lenders through advanced trading features. From what it’s understood, Bybit becomes the newest exchange to provide a cryptocurrency lending facility.
(With insights from Cointelegraph)
Source:financialexpress.com