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Binance Futures adds EUR to Cross collateral

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Binance has announced the addition of Euro [EUR] as an option to use as cross collateral in the Futures wallet. The asset will be available from 15 December at 07:00 AM [UTC]. This means that users will be able to collateralize EUR to borrow against another crypto asset. The borrowed funds can be used to trade futures contracts on its Futures platform.

The addition of EUR marked the first fiat in the list of cross collaterals available on Binance. Along with EUR, there are other digital assets like Binance USD [BUSD], Bitcoin [BTC], and Ethereum [ETH] available on the platform. According to the announcement:

“EUR, BTC, ETH and BUSD cross collaterals have different maximum borrowing limits and the limits are non-transferable.”

Binance had recently announced its new strategic partnership with sports and entertainment fan-token issuer, Chiliz. The first milestone of this partnership was when it was revealed that the fan token for PSG [Paris Saint-Germain] and Juventus [JUV] will be featured in the Binance Launchpool platform. This will allow users to stake tokens for up to 30 days to farm certain reward assets before they are listed in its innovation zone.

The users will be able to stake Binance Coin [BNB], Binance Dollar (BUSD), and Chiliz [CHZ] tokens into separate pools against either PSG or JUV, starting Dec. 15. at 00:00 UTC. The announcement shared with AMBCrypto noted,

“Binance will then list Paris Saint-Germain Fan Tokens (PSG) and Juventus Fan Tokens (JUV) in the innovation zone at 2020/12/21 6:00 AM (UTC) and open trading for PSG/BTC, PSG/USDT, PSG/BUSD, JUV/BTC, JUV/USDT and JUV/BUSD trading pairs.”

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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