The US listed listed in the CryptoCurrency Exchange Coinbase (Coins) will roll a lending product to the USDC that gives up its customers to earn directly from the exchange app, deepening its integration with decentralized finances (Defi).
This feature is strengthened by Morpho, Morpho, A protocol that has derived deposits by curated “vaults” managed by steakhouse financial, according to a Blogpost on Thursday
When users deposit the USDC, their funds are lent to lenders-including those who are tap into loans supported by Crypto backed by Bitcoin. Those who pay the interest of interest develop returns for depositors, who can retreat at any time without locked.
Coinbase said Ssetup creates an impact of flywheel in which lending and borrowing products strengthen each other. The launch complies with more than $ 900 million in loans derived by the loan service supported by the Coinbase Crypto. Together, the two offerings make up what the company calls the first complete onchain lending and borrowing the ecosystem.
By outsource backend on Morpho’s intelligent contracts while maintaining Coinbase’s interface, the company estimates the so -called “Defi mullet” approach: a familiar FinTech user experience in front, reinforced by open, decentralized infrastructure in the background.
For users, the product offers an easier way to decentralized lending markets without leaving the Coinbase platform. For Morpho, it emphasizes the argument that the future of finance will be built on open networks, but is accessible by trusted gateways.
