TLDR
- Coinbase introduces a USDC lending feature, offering users the chance to earn up to 10.8% yield.
- The integration with Morpho connects users to decentralized finance directly within the Coinbase app.
- The lending system uses a smart contract wallet and is managed by Steakhouse Financial.
- Users can access their funds when liquidity is available, ensuring flexibility.
- The USDC lending feature is available to users in the US, Bermuda, and other jurisdictions excluding New York.
Coinbase has introduced a new USDC lending feature that will allow users to earn up to 10.8% yield. The integration with the Morpho protocol will provide Coinbase users with access to decentralized finance (DeFi) directly through the app. This new feature is available to users in the US, Bermuda, and other jurisdictions, excluding New York.
The new lending feature connects to the Morpho protocol through a smart contract wallet. Steakhouse Financial will manage the on-chain vaults, distributing liquidity across various markets. The goal is to maximize returns while ensuring that users can access their funds when liquidity is available.
Coinbase Offers Up to 10.8% Yield on USDC
USDC, a stablecoin pegged to the U.S. dollar, already offers passive rewards for Coinbase users. The new lending system expands these rewards, allowing users to earn up to 10.8% annual yield. Coinbase aims to increase the earnings potential for USDC holders, which has a total supply of over $73 billion.
In conclusion, this new lending feature allows Coinbase users to earn higher yields on their USDC holdings. Coinbase continues to enhance its offerings, integrating DeFi services with a user-friendly interface and maintaining the platform’s high security standards.
