Coinbase launches USDC on-chain lending service with up to 10.8% yield

Source
JH Kim

Summary

  • Coinbase has launched a USDC on-chain lending service.
  • This service's yield is up to 10.8%, provided by Morpho and Steakhouse Financial on Base.
  • Users are connected to multiple lending pools through a smart contract wallet, earning yield immediately upon deposit and able to withdraw at any time.

On the 18th (local time), according to crypto-focused media The Block, global crypto exchange Coinbase launched an on-chain USDC lending service. Current yield is up to 10.8%, provided by Morpho and Steakhouse Financial on Base.

With this service, when users deposit USDC, Coinbase automatically creates a smart contract wallet that connects funds to various lending pools, providing optimized yield.

Users can earn yield immediately upon deposit and withdraw at any time.

publisher img

JH Kim

reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
What did you think of the article you just read?