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Coinbase, in partnership with Morpho Labs, has launched a Bitcoin-backed loan service, allowing U.S. users to borrow up to $100,000 in USD Coin (USDC) using their Bitcoin as collateral.
This initiative also highlights the tax-efficient potential of crypto-backed loans. Borrowed USDC can be converted to U.S. dollars without additional fees, bridging the gap between decentralized and traditional financial systems. Coinbase’s return to Bitcoin lending follows its discontinuation of the Borrow program in November 2023 and demonstrates its growing focus on decentralized finance tools.
By integrating crypto lending with DeFi platforms like Morpho, Coinbase aims to expand Bitcoin’s utility and create new financial opportunities for its users. As the market for Bitcoin-backed loans grows, such services could help significantly shape the future of crypto lending and decentralized finance.
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