There is a lot going on in crypto market and this is also the time when we will see a lot of innovative features and services coming in. For example we will be getting more options to utilise the Crypto assets that can generate some passive reward for us for holding the coins on certain platforms as well as we will get the option to use that assets as collateral and get the loans. We need not to sell the trip to that we hold instead it will be giving as the opportunity to get some funds if we are in need without even selling the digital holding because later on that holding can be much more valuable.
Coinbase is a leading crypto exchange based out in United state and now they change is going to offer Bitcoin backed loans to the users. I believe that this is going to be of fantastic service for the people who are holding Crypto but if in case they are in the need of some funds with they can get provided their holding the Bitcoin on the coinbase platform and this service will be provided in collaboration with morpho.
This product will be added for the users in US only as of now how your may be in future the platform will expand its reach to other countries also and even in United States this is going to be a great product for the Crypto community considering what benefited offers and how much adoption it gets in the market.
Coinbase (COIN) is adding bitcoin-backed loans to its U.S. product lineup, leaning on Morpho, the largest lending platform on its Base network, to drive eyeballs and wallets to its growing on-chain economy.
It is good that such products are created to get a different audience in the market and obviously it will get more attention from the people who are holding a good amount of digital assets but they do not want to sell those assets even when they are in the need of funds because no they have alternate way to manage their funds requirement and later on they can be benefited with the holding they are having and expecting better profitability.
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