{"id":436791,"date":"2023-09-06T11:01:55","date_gmt":"2023-09-06T11:01:55","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=436791"},"modified":"2023-09-06T13:55:27","modified_gmt":"2023-09-06T13:55:27","slug":"coinbase-launches-new-crypto-lending-service-to-capitalise-on-gap-left-by-genesis-blockfi-bankruptcies","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/coinbase-launches-new-crypto-lending-service-to-capitalise-on-gap-left-by-genesis-blockfi-bankruptcies","title":{"rendered":"Coinbase Launches New Crypto Lending Service To Capitalise On Gap Left By Genesis, BlockFi Bankruptcies"},"content":{"rendered":"
Coinbase has created a new cryptocurrency lending service aimed at US-based institutional clients that seeks to capitalise on the gap in the market left by the bankruptcies of Genesis<\/a> and BlockFi.<\/a><\/p>\n The new service has raised $57 million, according to a Securities and Exchange Commission filing<\/a> on Sept. 1.<\/p>\n Coinbase has maintained a tight-lipped stance regarding the launch of its new platform, but clients can lend money to the exchange — primarily cryptocurrency assets — and get collateral worth more than the loan’s value, CoinDesk reported<\/a>, citing a source familiar with the matter.<\/p>\n Coinbase looks to re-enter the lending business with new institutional offering 👀 pic.twitter.com\/ASYmsV5h7W<\/a><\/p>\n — Messari (@MessariCrypto) September 5, 2023<\/a><\/p><\/blockquote>\nWhat is known about the new lending service?<\/h2>\n
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