• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Coinbase Introduces New Bitcoin-Backed Loan Feature

user avatar

by Giorgi Kostiuk

a year ago

Coinbase has reintroduced a bitcoin-backed loan feature for its customers in the U.S., allowing them to borrow USDC without selling their bitcoins.

Return of Coinbase's Loan Feature

Coinbase is reintroducing its bitcoin-backed loan feature, excluding customers in New York. Loan limits are based on the value of stored bitcoins. This service will be available using the Morpho DeFi protocol, which can process loans in less than a minute.

Benefits of the New Program

Users taking out loans will earn more than 4% in USDC rewards. The loan recipients can also convert the USDC to fiat USD to cover off-chain expenses, such as buying a car or making a mortgage down payment.

Expansion and Crypto Loan History

Coinbase stated that USDC will be available natively on ten different blockchains, including Ethereum and Base. Notably, the crypto loan market faced tough times in the past, with bankruptcies like BlockFi and Celsius.

The return of Coinbase's bitcoin-backed loan feature marks a new phase in the field of decentralized finance, showing that the platform aims to address previous issues and offer more flexible and secure solutions for its users.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Uniswap and Cronos Show Limited Growth Potential Amid Market Changes

chest

Uniswap and Cronos are facing challenges in achieving significant growth, with limited upside predicted for both assets.

user avatarMaria Gutierrez

Regulatory Challenges Highlighted by Bank of Italy Regarding Public Blockchains

chest

The Bank of Italy outlines regulatory challenges and options for the use of public blockchains in financial services amid concerns over stablecoins.

user avatarDavid Robinson

Authorities Dismantle Illegal Crypto Mining Operation in Buryatia

chest

Law enforcement authorities in Russia's Republic of Buryatia have dismantled an illegal cryptocurrency mining operation that utilized a mobile setup to evade detection, involving five local residents who illegally accessed electricity networks.

user avatarJacob Williams

BNB Foundation's Meme Coin Investment Aligns with Fermi Upgrade Goals

chest

The BNB Foundation's $200,000 investment in Chinese meme coins is linked to the Fermi upgrade, aiming to enhance community engagement and improve BNB Chain's infrastructure.

user avatarAndrew Smith

Binance Announces New Altcoin Listing: FOGO Coin

chest

Binance has announced the listing of FOGO Coin under its Seed label, highlighting the asset's high volatility risks.

user avatarSon Min-ho

BNB Chain Launches $100M Liquidity Program to Boost Ecosystem

chest

The BNB Chain Foundation has launched a $100 million Liquidity Incentive Program to enhance liquidity and market integration within the BNB ecosystem.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.