Binance has extended its loan services, introducing DOGE and LTC as collateral, while adding CGPT to its VIP Loan program to cater to a wider range of users.
Binance, a leading global cryptocurrency exchange, has expanded its loan services by adding Dogecoin DOGE $0.0921 24h volatility: 0.8% Market cap: $15.51 B Vol. 24h: $1.13 B and Litecoin LTC $52.93 24h volatility: 0.8% Market cap: $4.06 B Vol. 24h: $334.45 M as collateral assets on its Fixed Rate Loan platform. According to an announcement on Wednesday, the company also introduced ChainGPT (CGPT) as a loanable asset on the VIP Loan program.
For clarity, Binance’s Fixed Rate Loans offer users the ability to borrow cryptocurrencies at predetermined interest rates over fixed terms. These over-collateralized loans support multiple collateral types, reducing liquidation risks and providing a secure borrowing experience.
Market Response to the Announcement
Apart from DOGE and LTC, Binance’s Fixed Rate Loan platform already supports a variety of collateral assets, including Bitcoin BTC $67 079 24h volatility: 0.0% Market cap: $1.34 T Vol. 24h: $53.12 B , Ethereum ETH $1 969 24h volatility: 0.2% Market cap: $237.52 B Vol. 24h: $23.64 B , and Binance Coin BNB $615.4 24h volatility: 2.3% Market cap: $83.91 B Vol. 24h: $1.53 B . This diverse selection allows users to leverage multiple cryptocurrencies to secure loans, catering to a wide range of financial strategies.
Meanwhile, following the addition of the new cryptocurrencies to the platform, they experienced notable market activity. Dogecoin which has been trading in the green since January 14, rose again to $0.36, representing approximately a 5% increase while LTC is currently valued at around $103 according to CoinMarketCap data. Over the past day, the digital asset has rallied 3.38%.
As for CGPT, the token saw a rapid rise of nearly 9% to $0. 4 on Wednesday afternoon. Currently, it boasts a market capitalization of more than $332 million. However, its trading volume has declined more than 18% within the past 24 hours.
Binance’s Recent Endeavors
Meanwhile, Binance’s expansion of its loan services comes amidst a series of endeavors. Between December 2024 and January 2025, Binance has been actively enhancing its product offerings including the introduction of new digital asset trading pairs to increase trading opportunities for users.
On January 3, the company announced the addition of PHA/USDC, PLN/USDCS, TEEM/USDC, and USUAL/USDC to its spot market. The new trading pairs were accompanied by dedicated Trading Bots for experienced traders.
The company also expanded its Earn program with the launch of a new limited-time offer on January 15, 2025, providing users with opportunities to earn rewards across various products.
Earlier today, the company’s futures arm announced that it has added support to include PROM/USDT Perpetual Contract. According to an official announcement, the new contract comes with up to 75X leverage, giving users an opportunity to control their positions that are 75 times larger than the initial capital they invest.
Binance has also achieved regulatory milestones in key markets in the industry. On January 2, the company announced that it began the new year with a new operational license in Brazil. According to Binance, the license, granted by the country’s financial watchdog, marked its 21st regulatory milestone globally.
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