Summary
- Coinbase announced that it has increased the loan limit for Bitcoin based products from the previous $100,000 to a maximum of $1 million.
- This loan limit increase seems to be a strategy to accelerate the introduction of the on-chain loan program.
- Coinbase stated that it plans to conduct loans through the DeFi loan protocol Morpho (MORPHO).
Global cryptocurrency exchange Coinbase has increased the loan limit for Bitcoin (BTC) based products from the previous $100,000 to a maximum of $1 million.
According to The Block, a cryptocurrency-focused media outlet, on the 30th (local time), Coinbase plans to accelerate the introduction of its on-chain loan program through this loan limit increase.
Previously, in January, Coinbase announced that it would resume offering Bitcoin loan services to U.S. users. Unlike before, loans will be conducted through the DeFi loan protocol Morpho (MORPHO).
JH Kim
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