Coinbase Launches Bitcoin-Backed Loans For US Users

Crypto exchange Coinbase (NASDAQ:COIN) has launched a new service allowing U.S. customers (excluding in the state of New York) to borrow (CRYPTO: USDC) against their Bitcoin holdings.

This new offering allows users to access liquidity without selling their Bitcoin, providing instant loans with flexible repayment terms and competitive interest rates powered by Morpho, an open-source lending protocol on Coinbase’s Layer-2 blockchain Base.

The loans are disbursed instantly in USDC, offering flexible repayment options and competitive interest rates set dynamically by Morpho’s open market lending pool.

“Getting a Bitcoin-backed loan on Coinbase is now easier and faster than ever. In under a minute, you can get a loan in USDC without ever having to sell …

Full story available on Benzinga.com