Coinbase Prime users have supposedly invested $57 million in the new lending program so far.
The leading cryptocurrency exchange – Coinbase – has reportedly started offering crypto loans to US institutional investors.
The move could signal the company’s willingness to strengthen its position in America despite the regulatory uncertainty and the issues with local watchdogs. Recall that the US SEC filed a lawsuit against Coinbase in June, accusing the trading venue of breaching several rules and offering trading services with unregistered securities.Based on a recent Bloomberg coverage, the firm’s new offering is operated through an entity called Coinbase Credit.
“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,” the crypto exchangeOffering crypto loans seems to be a market niche that needs new providers since some of the leading cryptocurrency lenders filed for bankruptcy during the prolonged bear market. Such examples are Celsius Network,
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