• 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

Crypto Analyst Predicts Bitcoin Price Rally to $150,000

chest

Crypto analyst Crypto Lens predicts Bitcoin price could reach $150,000 by February next year, outlining scenarios for a potential rally.

user avatarKenji Takahashi

Zcash Founder Discusses Ironwood Upgrade for Trustless Supply Verification

chest

Zooko Wilcox discusses the Ironwood upgrade for Zcash, which will allow users to independently verify the circulating supply trustlessly from the first block of activation.

user avatarMaria Fernandez

Analyst Predicts Nvidia Stock to Surge to $350

chest

Analyst Ananda Baruah from Loop Capital Markets predicts Nvidia stock will surge to $350, driven by the company's growing AI tech infrastructure, potentially yielding a 68% return for investors.

user avatarGustavo Mendoza

Dogecoin Exhibits Promise for Significant Surge.

chest

Dogecoin is trading at 0.0085, but technical analysis suggests it may be entering a critical setup for a potential breakout and significant price increase.

user avatarRajesh Kumar

Mastercard Introduces Agent Pay for AI to Revolutionize Micropayments

chest

Mastercard has introduced a new protocol called Agent Pay for AI, enabling AI agents to make micropayments on the Polygon blockchain.

user avatarMiguel Rodriguez

New Allegations Surface Against Cardano's Charles Hoskinson

chest

New allegations surface against Cardano's founder Charles Hoskinson, linking significant ADA transactions to him during the 2021 market rally, raising questions about transparency and governance.

user avatarLuis Flores

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.