Binance launches Bitcoin‑collateral stablecoin loan service amid price rise

Bitcoin rose 0.64% on Tuesday, reaching US$64,305.99, as strong performance in technology companies and a more favorable macro‑economic outlook lifted the broader market. The rally came despite recent news of Strategy’s Bitcoin sales to fund dividend payments and a hack of Coldcard hardware wallets that prompted users to move funds to centralized exchanges. Analysts at CryptoQuant noted a surge in small‑holder activity not seen since the FTX collapse, while ING warned the price could test long‑term support near US$54,450.

In the same market context, Binance announced a new “Lite Loan” product that lets users borrow stablecoins, up to 1,000 USDT, using Bitcoin as collateral. The service eliminates liquidation for the first 30 days and keeps the pledged Bitcoin earning in Binance’s Simple Earn Flexible program. A promotional interest rate of 0.5% applies during the launch period, rising to 1% after September 3, with a 36% annual penalty for missed payments after 30 days.