Coinbase Disrupts Bitcoin Backed Lending With Low Bar for Servicing Americans
Update: 2025-10-28
Description
**Summary:**Coinbase introduces a new Bitcoin-backed lending product, leveraging Morpho protocol for USDC loans. Users can access loans by posting Bitcoin as collateral, enjoying low rates of around five percent. The product's compliance angle allows Coinbase to bypass state-by-state licenses, but it faces regulatory scrutiny due to less oversight. The New York DFS has approved a limited version, and Coinbase seeks a national trust charter. With potential lending limits of up to five million dollars, the product could gain popularity as competition heats up in the decentralized finance space.
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