Coinbase (Coin) said that its loan program supported by Bitcoin had exceeded $ 1 billion of origin since its launch in January, highlighting an increasing demand for warranty crypto.
The exchange currently offers retail customers in the United States the possibility of borrowing money against Holdings via the Morpho chain platform. A spokesperson said the average loan size is $ 54,000, but noted that the company planned to spend its borrowing ceiling from $ 1 to 5 million in the coming weeks.
“We see some users borrowing against the current $ 1 [million] Limit of loans, and are delighted to also meet their needs, “said the spokesperson.” We work in close collaboration with the Morpho team to ensure that we maintain stable liquidity in the Onchain loan protocol while we move more customers with greater loans. “”
The product is intended for customers who seek to access species without selling their bitcoin, a use case that reflects the way owners use equity or how companies use the equipment. Coinbase said the main requests include debt consolidation, covering large unexpected expenses such as medical invoices or taxes, invest in real estate and make high -cost purchases.
This decision comes as the asset -based loan industry continues to develop. A July report provided that the market could reach 1.3 billion of dollars by 2030, reflecting a broader interest in the loans guaranteed by assets beyond real estate or traditional vehicles.
By pushing the ceiling higher, Coinbase is positioned to serve richer customers and investors who may want to borrow against the biggest Bitcoin holders.
The milestone highlights the regular integration of crypto in conventional financial practices.
