After teaming up with Morpho, the exchange is once again offering BTC-backed loans.
Borrow Against Bitcoin: Liquidity Without Selling Your Crypto
The new feature allows eligible users to borrow against their Bitcoin holdings. This will unlock liquidity without selling their digital assets. These loans are currently available to all American customers, except those in New York due to regulatory restrictions. Coinbase has hinted at plans to expand the offering, signaling a broader rollout in the future.
Bitcoin-backed loans are here.
Borrow USDC against bitcoin, without selling it. Rolling out to US users (ex. NY) starting now. More collateral assets and regions to come. Powered by @MorphoLabs and built on @Base.
The future of finance is onchain.
Learn more:… pic.twitter.com/PoLdWLz6aV
— Coinbase 🛡️ (@coinbase) January 16, 2025
This development could be a lifeline for Bitcoin holders looking for financial flexibility. Instead of cashing out their assets, users can leverage their Bitcoin for quick funds, all while maintaining ownership. It’s a win-win for those who want to keep their crypto investments intact while handling day-to-day expenses or seizing other financial opportunities.
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