Binance has seen a significant boost in its publicity after several partnerships and tie-ups. This has been spearheaded by CEO and founder Changpeng Zhao who has become the face of the company and its developments. The latest announcement from the Binance stables was related to the Binance Coin [BNB] being integrated on YouHodler, a popular cryptocurrency lending platform. YouHodler had tweeted:
“@Binance coin BNB is now integrated at YouHodler. Get a loan with $BNB, convert into $USDT or #BTC, receive up to 4.2% interest in #BNB. Want more? Wait for a contest for BNB communityStay tuned with @YouHodler.”
The platform opined that Binance’s rapid growth and use case made its case as the cryptocurrency to go to. This was also showcased by YouHodler Chief Executive Ilya Volkov, who said:
“We are happy to offer our users yet another top-10 coin that is in the midst of a large transition. BNB does a great job integrating crypto into the traditional finance world, so BNB will likely grow in importance over time and now, our users can take advantage of this.
YouHodler CEO further added,
“This is another step forward for YouHodler’s mission to turn passive Hodlers into active Hodlers through the use of our multifaceted FinTech platform.”
YouHodler also aims to become the one-stop-shop for all “cryptocurrency HODLers” and have added multiple features along with the tie-up to make it more enticing for users. People on the platform will have the option of instant cryptocurrency-backed loans using BNB tokens as a collateral.
They will also be able to convert their existing BNB tokens with Tether or Bitcoin pairs. Binance has always claimed that they believe users of the token should get a healthy return rate, and on YouHodler, the annual interest on BNB deposits will be 4.2 percent.
Binance was one of the few cryptocurrencies in the top 10 club that had a constant green rate across the 1-hour, 24-hour, and weekly charts. At press time, Binance was trading for $20.5 with a total market cap of $3.19 billion. The cryptocurrency also held a market volume of $313.25 million.
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