KEY TAKEAWAYS
- Bybit launches a Fixed Rate Loan service, enhancing control and predictability for crypto asset management.
- The service offers fixed interest rates and terms, providing stability and efficiency for both borrowers and lenders.
- Bybit’s new loan service includes features like Auto-Repay and Auto-Renew, simplifying loan management.
- The initiative reflects Bybit’s commitment to delivering value and evolving as a leader in the crypto finance space.
Bybit, recognized as the world’s second-largest cryptocurrency exchange by trading volume, has announced the launch of its Fixed Rate Loan service. This new offering aims to provide users with enhanced control and predictability in managing their crypto assets. The announcement was made here.
For the first time, Bybit users can access a peer-to-peer (P2P) loan service featuring fixed interest rates and terms. This initiative reflects Bybit’s commitment to delivering value to its global community. Joan Han, Sales and Marketing Director at Bybit, stated that the Fixed Rate Loan is designed to offer stability, flexibility, and efficiency, catering to the diverse needs of customers.
Features of Bybit’s Fixed Rate Loan
The Fixed Rate Loan service offers several advantages for both borrowers and lenders. Borrowers benefit from predictable costs by locking in a fixed interest rate for the loan’s duration, thus avoiding fluctuating rates and hidden fees. Lenders, on the other hand, receive a fixed annual percentage rate (APR), ensuring steady returns.
Users can choose from a wide range of collateral options, maximizing capital utilization. The service also includes features like Auto-Repay and Auto-Renew, which are set to simplify loan management. Bybit manages both collateral and loaned assets directly, providing principal protection for suppliers.
Loan Terms and Conditions
Bybit’s Fixed Rate Loan offers flexible terms with a wide selection of cryptocurrencies, including USDT, USDC, BTC, ETH, XRP, SOL, and MNT, with plans to add more. Loan durations are available for 7, 30, 90, or 180 days. The Loan-to-Value (LTV) ratio 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 transparency and security for all participants.
This new service underscores Bybit’s evolution as a leader in the crypto finance space, offering solutions for borrowers seeking predictable costs and lenders aiming for steady returns.
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