Coinbase has recently launched a digital asset lending platform for institutional investors in the US. The platform has raised $57 million according to regulatory filings. Reuters reported on Tuesday that Coinbase is offering a new crypto lending service for its institutional clients. Coinbase launches asset lending platform.
🌎《Now you can now start trading at TNNS PROX》📈
🔥Start trading today, click "sign up" from the link above.
Coinbase launches asset lending platform. Coinbase Fills the Gap Left by Genesis and BlockFi
Coinbase has launched a new lending service, which was revealed in a filing with the US Securities and Exchange Commission (SEC). The exchange has already raised a significant amount of capital for the platform. This new service is expected to fill the gap left by Genesis and BlockFi, which both faced financial difficulties in their crypto lending units. Coinbase's lending service allows clients to lend money and receive collateral that exceeds the loan's value. The funds can then be used to make secured loans to institutional trading clients. A Coinbase spokesperson has confirmed the launch of the new service.
“With this service, institutions can choose to lend digital assets to Coinbase under standardized terms in a product that qualifies for a Regulation D exemption.”
Adding,
“Coinbase is working to update the financial system that was built over 100 years ago, leveraging crypto to provide people with more economic freedom and opportunity. To advance this purpose, Coinbase is building the most trusted crypto products and services, and supporting other builders to bring 1 billion people into crypto.”
Base Suffers An Outage
Coinbase's newly launched Layer-2 Ethereum network, "Base," experienced a 30-minute outage that took an additional half-hour to resolve. Despite this setback, Coinbase's bullish news regarding their new crypto lending service was not affected, and Base assured its customers that no funds were at risk. Here is what Base said:
“Earlier today, we had a delay in block production due in part to our internal infrastructure requiring a refresh. The issue has been identified and remediated. No funds are at risk.”
On Tuesday at 05:36 ET, Coinbase's development team reported that there may be issues for users when submitting transactions on Base. Coinbase had announced the launch of Base in February, stating that it is a low-cost, secure, and developer-friendly platform designed to attract more users to the digital asset space. The exchange opened its Layer-2 network to the public on August 9, following the release of its Ethereum bridge and the opening of the platform to builders on July 13.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
コメント