Coinbase Launches Bitcoin-Backed Loans
This is a Base news story, published by CoinGape, that relates primarily to Bitcoin news.
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•Coinbase launches Bitcoin-backed loan service allowing users to borrow up to $100,000 USDC
60% Informative
Users can borrow up to $100,000 USDC with Bitcoin as collateral via DeFi protocol Morpho .
Loans are secured by converting Bitcoin into cbBTC, a wrapped token, enabling decentralized finance functionality on Base .
Borrowers face no fixed repayment schedule but risk liquidation if Bitcoin 's value falls below safe collateral levels.
The service is currently available to U.S. customers, excluding those in New York , with plans for further market expansion.
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