Binance, the largest cryptocurrency exchange by trading volume, is launching a new lending platform called “TrueFi”. The move comes as Binance looks to expand its services beyond traditional cryptocurrency trading.
TrueFi is a decentralized lending platform built on the Ethereum blockchain. It allows users to borrow and lend cryptocurrencies without the need for a centralized third party.
The platform is designed to be simple and transparent, with loans being originated and funded by multiple lenders.
NOTE: TrueFi is not a Binance product. There are a few similarities in the products, but TrueFi is not affiliated with Binance in any way and the two should not be confused. Investing in any product carries with it risk, so it is important to do your own research and understand the differences between TrueFi and Binance before investing.
The launch of TrueFi is a major expansion for Binance, which has up until now been focused primarily on cryptocurrency trading. The move will allow Binance to tap into the growing lending market, which is currently estimated to be worth $30 trillion.
TrueFi is not the first lending platform to launch on the Ethereum blockchain, but it is one of the most user-friendly and well-funded platforms in the space. The platform has already secured $1 billion in funding from some of the world’s largest investment firms, including Andreessen Horowitz and Sequoia Capital.
The launch of TrueFi is a positive development for both Binance and the Ethereum ecosystem. It will allow Binance to expand its services and reach new users, while also providing a boost to Ethereum’s growing ecosystem of decentralized applications.
4 Related Question Answers Found
Dafi is a decentralized finance protocol that enables users to earn interest on their cryptocurrency holdings. It is built on the Ethereum blockchain and utilizes the ERC20 token standard. Dafi is one of the first protocols to offer interest-bearing accounts for digital assets.
Binance, one of the world’s largest cryptocurrency exchanges, is not a custodian. This means that when you use Binance to buy, sell, or trade cryptocurrencies, you are responsible for your own security. This article will explain what this means and why it’s important.
Divi is a cryptocurrency that was created in 2017. The team behind Divi is experienced in both the tech and marketing industries. Divi’s goal is to make cryptocurrency easy for everyone.
Binance is one of the most popular cryptocurrency exchanges in the world. Founded in 2017, Binance has grown to become one of the largest exchanges in terms of trading volume. Binance offers a wide range of features, including a spot exchange, margin trading, derivatives, and more.
