Binance launches bitcoin-backed ‘Lite Loan’ with $1,000 borrowing limit

Binance is launching Lite Loan, a bitcoin-backed borrowing product with a $1,000 borrowing limit in USDT, catering to eligible users. This move allows users to tap into their existing bitcoin holdings, potentially providing liquidity without selling their assets. The introduction of Lite Loan is likely to increase user engagement and deepen Binance's offerings in the lending space.