Blockchain incubator Binance Labs invested in the Libra Credit is a “decentralized platform of financial services for digital assets”. It is expected that through this partnership, token Coin Binance (BNB) can act as collateral for the cryptocurrency and piatogo lending.
Global credit network Credit Libra was created by “former veterans of the financial technology PayPal” and built on the basis of Ethereum. The project is going to revolutionize the lending industry, combining the existing global network of credit, a team of business leaders, machine learning and the power of blockchain technology.
“The creators of the Libra Credit have a significant experience and resources in financial services and payment solutions. They set out to provide the industry long-term impact,” said chief Executive officer Binance Labs, Ella Zhang (Ella Zhang).
In a press release the startup said that inmate, the partnership should help to meet the growing demand for liquidity scriptaction built on the basis of Ethereum. The launch of the platform planned for the next couple of months, and mobile versions before the end of the year.
As soon as Libra Credit will come to market, holders BNB will be able to get a loan in bitcoin and Fiat, putting as security tokens Binance. In response to the appearance of this news on 28 June, the value of Coyne increased by 11% (from 13.3 USDT to a maximum of 14.75 USDT), but the rally was short-lived, and at the time of publication the price of 13.56 BNB is USDT.
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