• 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

HYPE Coin Faces Challenges Amid Token Unlocks

chest

HYPE Coin is preparing for significant token unlocks that could impact its valuation and market dynamics.

user avatarLi Weicheng

Aster Coin Anticipated to Show Significant Upward Movements

chest

Aster Coin is projected to exhibit significant growth as it approaches the weekend, with a target price range of 091 to 139.

user avatarMaya Lundqvist

XRP and Hedera Maintain Strong Market Positions

chest

XRP and Hedera continue to show resilience in the crypto market, with XRP focusing on cross-border payments and Hedera enhancing enterprise adoption.

user avatarLeo van der Veen

Fleet Mining Simplifies Registration with Attractive Bonuses

chest

Fleet Mining has simplified the registration process for new users by offering attractive bonuses and daily rewards.

user avatarAisha Farooq

Long-Term Falling Wedge Pattern Signals Potential Altseason for 2025

chest

A falling wedge pattern has formed on the altcoin market cap chart, indicating potential for a breakout in 2025.

user avatarTenzin Dorje

Rising Staking Demand as ETH Waiting to be Staked Exceeds Exit Queues

chest

Onchain data reveals that the amount of ETH waiting to be staked has surpassed those in the exit queues, indicating a shift in network participant behavior.

user avatarBayarjavkhlan Ganbaatar

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.