Coinbase Introduces On-Chain Loans Secured by ETH in Partnership with Morpho
Coinbase and Morpho Partnership: Coinbase has launched an ETH-backed on-chain lending product in collaboration with Morpho, allowing qualified U.S. users to borrow up to $1 million USDC using ETH/WETH as collateral.
Loan Details and Conditions: The product features a 75% loan-to-value ratio and allows for liquidation if collateral value falls below an 86% threshold, enhancing the utility of ETH in decentralized finance (DeFi).
Impact on DeFi Ecosystem: This initiative is expected to increase the on-chain utility of ETH and reflects a growing trend of integrating centralized exchanges with DeFi protocols, potentially boosting institutional engagement.
Future of On-Chain Lending: Coinbase's CEO, Brian Armstrong, emphasizes the importance of composable, on-chain lending for the next wave of crypto adoption, indicating a maturation of DeFi lending infrastructure.
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