• 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

Federal Reserve Meeting and Inflation Reports This Week

chest

This week, the Federal Reserve will release its meeting minutes and key inflation reports, with potential market volatility expected.

user avatarNguyen Van Long

CVD Analysis Reveals Institutional Trading Patterns

chest

CVD analysis reveals trading patterns of institutional investors compared to retail traders, highlighting trends in order flow segmentation and market sentiment.

user avatarKofi Adjeman

Toss to Integrate Web3 Wallet into Existing App

chest

Toss plans to embed a Web3 wallet into its mobile application, simplifying access to digital assets for users.

user avatarRajesh Kumar

Toss Plans to Launch Proprietary Blockchain Mainnet

chest

Toss is developing its own mainnet and native digital asset to reshape its fintech capabilities in South Korea.

user avatarJesper Sørensen

StakeStone Executes Major STO Token Transfer to Bitget

chest

StakeStone team executed a major STO token transfer valued at approximately 29 million to the Bitget cryptocurrency exchange.

user avatarLucas Weissmann

Bitchat Messaging App Faces Removal from China's App Store

chest

Bitchat, a decentralized messaging app, has been removed from the App Store in China for violating internet service regulations.

user avatarSatoshi Nakamura

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.