Binance, the world’s largest virtual asset exchange, will provide loans to virtual asset mining companies.

According to the U.S. virtual asset media CoinDeskUS on the 17th, Binance will carry out a $500 million loan project for mining companies and infrastructure providers that have applied for support. The interest rate is 5-10% and the loan period is 18-24 months.

Binance decided to provide loan support in consideration of the difficulties of mining companies due to Bitcoin’s market price, increased mining difficulties, and energy unit prices, which are at the lowest level of the year.

Last month, Maple Finance, a decentralized finance (DeFi) platform, supported Bitcoin miner loans. Maple Finance has created a $300 million loan pool to support miners in North America and Australia

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