• 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

Forward Industries Launches Institutional-Grade Validator Node on Solana

chest

Forward Industries launched its first institutional-grade validator node on the Solana blockchain in October, enhancing its presence in the Solana ecosystem.

user avatarLi Weicheng

Ryan Navi Joins Forward Industries as Chief Investment Officer

chest

Forward Industries has appointed Ryan Navi as its new Chief Investment Officer to lead the company's Solana-focused treasury strategy.

user avatarLeo van der Veen

Systematic Withdrawal Plans: A Key Strategy for Reliable Income Generation

chest

Systematic Withdrawal Plans (SWP) are an effective strategy for generating reliable income from investments by allowing regular withdrawals from mutual funds.

user avatarJacob Williams

Seven Core Consistency Champions Identified for Passive Income Portfolios

chest

A new analysis has identified seven mutual funds and ETFs that stand out for their structural stability and capacity to generate income.

user avatarAndrew Smith

The Financial Imperative for CRM Security

chest

CRM systems have evolved into critical repositories for sensitive financial data, making them prime targets for cyber threats.

user avatarTenzin Dorje

Quantified Financial Risk in the Financial Sector

chest

The financial sector faces significantly higher costs per data breach compared to the global average, necessitating robust security investments.

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.