​Binance Introduces New Feature BNB Vault on Binance Earn

​Binance, a cryptocurrency exchange that provides a platform for trading various cryptocurrencies, announced that it has launched a new feature BNB Vault on Binance Earn.

According to Binance, the new feature combines the multiple income benefits of Binance Smart Chain (BSC), Launchpool, Savings, DeFi Staking, and more through just one interface, allowing BNB holders flexibly deposit and withdraw BNB.

In an official press release, the exchange stated that the BNB Vault will allow users to earn an estimated Annual Percentage Yield (APY) of 5% to 10%. 

The benefits users can get from staking BNB include rewards from Flexible Savings products, new Launchpool tokens gained from staking BNB, income from DeFi Staking offerings and benefits from participating in BSC (rewards coming soon).

An important aspect of BNB Vault is combining the earnings from centralized finance (CeFi) with the benefits of decentralized finance (DeFi) through Binance Smart Chain. With this new solution, users gain simultaneously from Binance Earn products and the BNB staking mechanism on BSC, which is fueled by the growing ecosystem of DeFi projects and other blockchain solutions that increasingly use BSC.

Binance recently added new features to its branded debit card which allows Binance users to convert their cryptocurrencies in fiat and also to spend them at more than 60 million locations around the world.