• 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

2 years 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

xAI Challenges Minnesota's AI Nudification Law in Federal Court

chest

xAI, founded by Elon Musk, sues Minnesota AG to block HF 1606, a law regulating AI nudification software, claiming it violates free speech.

user avatarAndrew Smith

Concerns of an AI Bubble Similar to 2008 Housing Crisis

chest

Concerns about a potential AI bubble are being discussed, drawing comparisons to the 2008 housing crisis and the dot-com bubble.

user avatarZainab Kamara

Rising Treasury Yields Impact Stock and Crypto Markets

chest

The recent surge in US 30-year treasury yields is impacting stock and cryptocurrency markets, leading to increased borrowing costs and a preference for safer investments.

user avatarJacob Williams

AI Companies Destroying Books for Training Data Raises Concerns

chest

AI companies are acquiring and destroying physical books to create training datasets, raising concerns about copyright and the preservation of literary works.

user avatarSon Min-ho

Cryptocurrency Scams Account for Over Half of Cybercrime Losses

chest

A report by the Consumer Federation of America reveals that cryptocurrency scams have led to significant financial losses, with estimates reaching 807 billion.

user avatarAyman Ben Youssef

Zcash Launches Ironwood Upgrade to Enhance Security and Privacy

chest

Zcash has launched the Ironwood upgrade to prevent counterfeit coins from entering circulation and to enhance privacy.

user avatarTando Nkube

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.