CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
BitcoinSistemi 2025-01-16 16:47:08

Coinbase is Restarting Bitcoin (BTC) Service After Suspending It Almost 2 Years Ago!

Coinbase is bringing back its Bitcoin-based lending service for US users through Morpho, DL News reports. Accordingly, Coinbase users will now be able to borrow directly from the exchange by using their Bitcoin as collateral. Coinbase will launch this service in May 2023 The new Bitcoin-backed loans will be available to customers in the United States, excluding New York state, and will be available in additional regions over time. Related News: Coinbase Has Stopped Bitcoin Credit Transactions! Coinbase said the new BTC-backed loans are different from previous ones in that Coinbase does not back the loans itself, but instead is backed by Morpho, a DeFi lending protocol with $3.7 billion in deposits. Paul Frambot, CEO and co-founder of Morpho, told DL News: “Morpho allows companies like Coinbase to maintain full control over the products they produce, while also removing the need to cede control or governance to third parties like DAOs.” Coinbase Vice President of Product Max Branzburg explained in a statement that users borrow USDC in exchange for Bitcoin, and their collateral is automatically converted to cbBTC and transferred to the Morpho protocol. CbBTC is a DeFi-compatible version of Bitcoin issued by Coinbase. *This is not investment advice. Continue Reading: Coinbase is Restarting Bitcoin (BTC) Service After Suspending It Almost 2 Years Ago!

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.