"UK customers can now instantly borrow USDC at competitive interest rates using their BTC, ETH, or cbETH as collateral, with plans to expand eligible collateral assets in the future."
"The infrastructure is powered by Morpho, an open-source lending protocol operating on Base, allowing users to unlock liquidity in under a minute through its app."
"Borrowing limits for bitcoin-backed loans can reach as high as $5,000,000, depending on pledged holdings, reinforcing the product's utility for high-value transactions."
Coinbase has launched its crypto-backed lending product in the U.K., allowing users to borrow USDC using BTC, ETH, or cbETH as collateral. This expansion reflects the rising demand for on-chain credit solutions, enabling users to access funds without selling assets. The service offers competitive interest rates and quick liquidity access through the Coinbase app. Users can also earn rewards in USDC. The infrastructure is supported by Morpho, with plans to increase eligible collateral assets in the future, indicating Coinbase's strategy for broader market penetration.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]