Binance Labs partners with Libra Credit; advances international cryptocurrency demands

On 27th July, Binance Labs announced its partnership with Libra Credit in order to revolutionize demands for the cryptocurrency. Binance Labs is a leading blockchain technology incubator focusing on pre-ICO [Initial Coin Offering] projects and communities.

Libra Credits's tweet | Source: Twitter

Libra Credits’s tweet | Source: Twitter

The collaboration between Binance Labs and Libra Credit is to advance the international demands of liquidity of cryptocurrencies on Ethereum’s blockchain. This partnership will allow the Binance Coin [BNB] holders to receive loans guaranteed by Binance.

Libra Credit, with the help of blockchain technology, a diverse team of entrepreneurial leaders and machine learning, is on its way to revolutionizing the lending industry. A desktop version of Libra Credit software has been launched in the 3rd quarter of 2018, which enables crypto to crypto/ fiat lending.

In the month of June, the company announced the addition of four new members to the team under executive management in order to protect their customers from getting into an online fraud.

The CEO of Binance Labs, Ella Zhang, further added that Libra Credit team has an eminent experience and resources in the financial services and payment solutions. The company is committed to make a long-lasting impact on the industry.

Headquartered in San Francisco, Libra Credit was founded in 2017. It is a decentralized lending industry specializing in blockchain technology.

Changpeng Zhao “CZ”, the CEO of Binance, earlier made a statement regarding Binance’s growth by focusing on providing first-rate services to its customers. Furthermore, CZ said that a company would not grow unless it is based on good ethical values. Rumors regarding a high listing fee for Binance were around the corner. However, he said that the statement is false and that the listing fee is not high.

Binance announced that 100 million VTHO tokens will be distributed on 1st August among all VeChainThor [VET] holders to celebrate the launch of VeChain Mainnet.

WB KIM, a Twitter user said:

“This is so good news”

On the other hand, there were many Binance supporters who were unhappy with the news.

DroidFeed, a Twitter and Binance follower said:

“Libra is openly and obviously manipulating/cheating the vote! How are you still supporting them? This is going to be bad PR for binance to play favorites and engage in unethical behaviour for allowing cheating to occur.”

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