en.bitcoinsistemi.com
Coinbase, the largest cryptocurrency exchange in the US, has made a new announcement regarding Ethereum ($ETH).
Accordingly, Coinbase has launched a new lending feature that allows investors to obtain cash without selling or destaking their $ETH.
Coinbase has introduced a lending feature that allows eligible US customers (excluding New York) to borrow $USDC in exchange for cbETH without selling their $ETH or maintaining their staked $ETH positions.
With this move, Coinbase enables cbETH-backed lending, allowing users to borrow up to $1 million using cbETH as collateral.
In this configuration, users can borrow $USDC in exchange for the cbETH they hold on the platform and convert it to dollars within Coinbase.
“You’ve staked your $ETH, but do you need liquidity?”
No problem. You can now access up to $1 million in liquidity without withdrawing or selling your cbETH.
Loans are backed by Morpho, an on-chain lending protocol, while interest rates are variable and dependent on market conditions. Borrowers can repay at any time without a specific payment schedule or due date. However, borrowers are required to keep their loan-to-value ratio below 86 percent to avoid automatic liquidation.
*This is not investment advice.