Global cryptocurrency exchange Binance will launch a new securities lending service on the upcoming 4th.

Binance officially announced the introduction of the Fully Paid Securities Lending (FPSL) service through its official social media. FPSL is a method where users lend their eligible securities assets to other market participants and receive a lending fee. It is a common financial service brokered by securities firms or custodial institutions in traditional financial markets, and the lent securities are primarily utilized for short selling, arbitrage trading, and market making.

Binance explained that through the introduction of this service, it plans to provide users with additional opportunities to generate revenue by utilizing their held assets.