TechFlow news, January 16 — According to DL News, Coinbase has announced the launch of a DeFi-based Bitcoin lending service for U.S. users (excluding New York State). The service is powered by the DeFi lending protocol Morpho. When users deposit Bitcoin as collateral, their assets are automatically converted into cbBTC and transferred into the Morpho protocol.
This marks a significant move by Coinbase following its previous lending program termination in July 2023 due to regulatory pressure from the SEC. Coinbase's Vice President of Product, Branzburg, stated that users will bear the risks associated with variable interest rates. The initiative represents a milestone in the deep integration between centralized exchanges and DeFi, with plans to gradually expand to other regions in the future.
