Coinbase, the top crypto exchange in the US, has announced a new Bitcoin-backed loan program for its users. With this new program, users will be able to borrow USDC against their bitcoin without the need to sell it. The borrowed USDC can be used in various ways, including earning rewards, sending it globally for free, and converting it to USD to cover major expenses. Coinbase sees this product as a way to help their customers establish themselves financially on the blockchain. This announcement has caused a 1.68% increase in the trading price of Coinbase Global Inc. (COIN), which is currently trading at $280.



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