Coinbase (Coin) said that its loan program supported by Bitcoin has exceeded $ 1 billion in originations since its launch in January, underlining the growing demand for cryptography as a guarantee.
The exchange currently offers retail customers in the US. UU. The ability to borrow effective. Parts through the Morpho on chain platform. A spokesman said that the average loan size is $ 54,000, but noted that the company plans to increase its loan limit of $ 1 million to $ 5 million in the coming weeks.
“We see some users borrow against the current $ 1 [million] Loan limit, and are also excited to meet their needs, “said the spokesman.” We work in close collaboration with the Morpho team to make sure to maintain a constant liquidity in the loan protocol in the chain as we leave more customers with larger loans. “
The product serves customers who seek to access cash without selling their bitcoin, a case of use that reflects how owners take advantage of capital or how companies take advantage of the equipment. Coinbase said that the main applications include the consolidation of the debt, which covers large unexpected expenses, such as medical invoices or taxes, invest in real estate and make high -cost purchases.
The measure is produced as the asset -based loan industry continues to expand. A projected July report that the market could reach $ 1.3 billion by 2030, which reflects a broader interest in loans secured by assets beyond real estate or traditional vehicles.
By pushing the highest roof, Coinbase is positioning to serve richer clients and investors who can borrow against Bitcoin larger holdings.
The milestone highlights the constant integration of cryptography in conventional financial practices.
