Binance recently added decentralized lending and borrowing via the Venus Protocol Mini Program. The blockchain and crypto provider will offer these services on Android and iOS platforms with the integration.
Venus Protocol is the leading money market platform on the Binance Chain. The project uses Mini Program to offer DeFi-based opportunities to Binance users. With the Venus Protocol Mini Program, Binance can access smooth decentralized borrowing and lending.
It will enable Binance users to access the Venus Protocol directly. In addition, the users can easily access the features in the Binance interface without closing or switching the app.
Venus Protocol’s CEO, Brad Harrison, commented on the recent development. According to Brad, the Venus Protocol team is delighted to join hands with Binance. The collaboration will allow them to expand the reach of decentralized lending and borrowing services. In addition, millions of Binance users will access DeFi-based services via Venus Protocol. It will minimize the learning curve for beginners, leading to global DeFi adoption.
Currently, Venus Protocol is only the second DeFi-based project on Binance, and the PancakeSwap Mini Program became the first to achieve this feat in March 2022. Besides the lending and borrowing functionalities, Binance users can also access Venus Protocol using a non-custodial Web3 wallet from the Binance App.
It can only be done using the latest app. It will enable the creation of a DeFi-based wallet, use dApps, and transfer funds. Since Binance is designed to offer a seamless experience, Venus Protocol will also gain value from the development. It will help users switch between DeFi and Binance without copy-pasting wallet addresses multiple times. Additionally, it will expand Venus Protocol’s reach and value proposition.