Crypto exchange Binance has launched "Lite Loan," a new product that lets eligible users borrow up to 1,000 USDT without selling their bitcoin.
The exchange said the product is designed for users with small, short-term borrowing needs who want a simpler borrowing experience.
"Lite Loan is designed for users who want access to liquidity without the complexity that often comes with crypto borrowing," Jeff Li, Binance's vice president of product, said in a statement.
Users can also use bitcoin held in Binance's Simple Earn Flexible products as collateral, allowing those holdings to continue earning yield while the loan is outstanding.
Borrowed USDT can be used for trading or payments through Binance Pay.
