• 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

Ripple and RedotPay Join Forces to Revolutionize Cross-Border Payments

chest

Ripple Labs has partnered with RedotPay to enhance the utility of its RLUSD stablecoin, aiming to improve cross-border payments and reduce fees through a new feature that allows users to send cryptocurrencies and convert them to Nigerian Naira.

user avatarNguyen Van Long

Oracle Cloud Infrastructure Set to Expand Market Share

chest

Michael Turrin from Wells Fargo predicts that Oracle Cloud Infrastructure will increase its global market share to 16% by 2029, positioning it alongside major cloud providers like Amazon and Microsoft.

user avatarSatoshi Nakamura

Wells Fargo Bets on Oracle with New Overweight Rating

chest

Wells Fargo's analyst Michael Turrin has initiated coverage on Oracle with an overweight rating and set a price target of $280, indicating a 39% surge from its current trading price.

user avatarJesper Sørensen

Axis Launches Onchain Yield Engine for USD, Bitcoin, and Gold

chest

Axis is developing an innovative onchain yield engine integrating USD, bitcoin, and gold to deliver market-neutral returns.

user avatarFilippo Romano

Axis Raises $5 Million in Private Funding Round Led by Galaxy Ventures

chest

Axis, a quantitative yield protocol, has raised $5 million in a private funding round led by Galaxy Ventures.

user avatarLucas Weissmann

Remittix Develops Platform for Seamless Crypto Payments

chest

Remittix is developing a platform to facilitate crypto-to-fiat transfers, raising over $28M in the process.

user avatarTomas Novak

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.