US-based cryptocurrency exchange Coinbase is granting loans to its citizens via Bitcoin collateral. It has gone all guns blazing with its offerings as this comes after listing DeFi projects and in-demand altcoins.
The new development about offering loan was announced by Coinbase on the Twitter account as the said, “US customers in select states will soon be able to borrow 30% of your Bitcoin holdings in cash. Eligible customers are invited to sign up on the waitlist for early access on Coinbase today”.
In a blog published on their website, Coinbase said, “We now offer easy investing tools for dollar cost averaging, market stats for tradable assets, and support 24 assets for trading. New assets we’ve added include stablecoins USDC and Dai, which can be used by customers to earn rewards when held on Coinbase”.
With the launch, Coinbase has a vision to to give their customers even more control over their crypto investments, while offering secure access to cash at the same time.
Though the offer is valid in limited states, Coinbase has now invited Bitcoin holders to join the waitlist for the option to borrow up to 30% of their Bitcoin holdings.
The loan will enable customers to borrow cash quickly from their Coinbase accounts. It will also not require them to fill out a long application or go through a credit check as the customers can simply sign up with a few taps and get the cash in their accounts within 2–3 days.