DUBAI, United Arab Emirates, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Bybit, the world’s second-largest cryptocurrency exchange by trading volume, proudly announces the launch of its Fixed Rate Loan service empowering users with greater control and predictability in managing their crypto assets.
For the first time ever at Bybit, users can access a peer-to-peer (P2P) loan service with fixed interest rates and terms. This latest offering reflects Bybit’s ongoing commitment to delivering unparalleled value to its global community.
“With the launch of Fixed Rate Loan, Bybit is introducing a fresh way for users to lend and borrow in the crypto space. It’s designed to provide stability, flexibility, and efficiency, catering to the diverse needs of our customers,” said Joan Han, Sales and Marketing Director at Bybit. “This product is an exciting milestone for us, reinforcing our dedication to making crypto finance accessible and reliable.”
What Sets Bybit’s Fixed Rate Loan Apart?
Bybit offers several advantages for both borrowers and lenders:
- Predictable Costs: Borrowers lock in a fixed interest rate for the loan’s duration, avoiding fluctuating rates and hidden fees.
- Steady Returns: Lenders receive a fixed APR, ensuring stable returns.
- Flexible Collateral: Users can choose from a wide range of collateral options, maximizing capital utilization.
- Streamlined Process: Features like Auto-Repay and Auto-Renew (coming soon) simplify management.
- Secure Management: Bybit directly manages both collateral and loaned assets with principal protection for suppliers.
Bybit's loan terms offer flexibility and a wide selection of cryptocurrencies, including USDT, USDC, BTC, ETH, XRP, SOL, and MNT, with more to be added. Loan durations are available for 7, 30, 90, or 180 days. The Loan-to-Value (LTV) starts at 80%, with a margin call at 85% and liquidation at 92%. The minimum order amount for borrowing and lending is set at 1,000 USDT equivalent. In the event of liquidation, a 2% repayment fee applies, ensuring a transparent and secure process for all participants.
Why Choose Bybit’s Fixed Rate Loan?
This new service represents Bybit’s continued evolution as a leading innovator in the crypto finance space. Whether the user is a borrower seeking predictable costs or a lender aiming for steady returns, Fixed Rate Loan offers the ideal solution to navigate the dynamic world of cryptocurrency.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
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Contact
Head of PR
Tony Au
Bybit
tony.au@bybit.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d78acb8-ec79-42c6-9a4b-ce60a9f8636e
