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Binance Introduces NFT Loan Option

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Starting this Friday, a new tool will be introduced that allows users to obtain Ethereum loans exclusively. Initially, the tool will support NFTs from popular collections such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles. The platform intends to introduce additional choices in the coming times.

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Binance is introducing a new feature on its marketplace that lets people with digital assets borrow Ethereum by using their NFTs as collateral.

Binance is launching a new service called Binance NFT Loan, which allows users to borrow cryptocurrency, starting with ETH, by using valuable NFTs as collateral. The platform promises attractive interest rates, quick access to funds, no transaction fees, and protection for the borrowed assets.

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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