Coinbase Offers Users a Potential Earnings Rate of 10.8% Through the Launch of Their USDC Lending Program
Coinbase Launches New Onchain Lending Product
Coinbase, a leading cryptocurrency exchange, has recently introduced a new onchain lending product. This innovative service is currently available to a limited number of users outside New York, South Korea, and the UAE, with potential expansion to other regions in the future.
The new product operates on Coinbase's layer 2 network, Base, and is not exclusive to the platform. Users can lend their USDC stablecoin holdings, with the interest rate varying based on market conditions, although it was previously stated to offer up to 10.8% annual yield.
The integration of this new product is facilitated by Steakhouse Financial and is an extension of the integration with decentralized lending protocol Morpho. This partnership aims to route user USDC deposits across optimized DeFi lending pools via smart contract wallets within the Coinbase app.
It's important to note that the terms and conditions of this new product should be thoroughly reviewed before participation. The availability in other countries may also be subject to regulatory approval.
Subscribing to the Unchained Daily newsletter provides updates on this new product and other crypto-related news for free. Stay informed and make informed decisions in the ever-evolving world of cryptocurrency.
Remember, this article is based on the information provided in the Unchained Daily newsletter. Always do your own research and consult with a financial advisor before making any investment decisions.
Read also:
- Electric-powered vessels take to the waters of Maine
- Elon Musk accused by Sam Altman of exploiting X for personal gain
- Comparing the value of top electric scooters: Kinetic DX versus Bajaj Chetak versus TVS iQube - Which one offers the best bang for the buck?
- American Eagle's risque promotional effort featuring Sydney Sweeney leads to the brand being categorized as a 'trendy stock' among teenagers.
