Summary
- Coinbase announced that it will start a Bitcoin loan service for US customers in collaboration with the decentralized finance (DeFi) lending institution Morpho.
- This service will be available in the US, excluding New York State, and is expected to expand to other jurisdictions.
- Coinbase, which had stopped offering loan products after the bankruptcy of platforms like Celsius, Genesis, and BlockFi, seems to be seeking new market entry with this service.
Global cryptocurrency exchange Coinbase is launching a Bitcoin (BTC) loan service for US users.
According to a report by DL News on the 16th (local time), Coinbase plans to start a Bitcoin loan service in collaboration with decentralized finance (DeFi) lending institution Morpho. This service will be available to US customers, excluding those in New York State, and is expected to expand to other jurisdictions in the future. The loan product will be brokered through Coinbase, but the actual service will be operated by Morpho.
Coinbase had previously halted offering loan products following the bankruptcy of several cryptocurrency lending platforms such as Celsius, Genesis, and BlockFi in 2022.
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