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Coinbase supports PAX Gold collateralized USDC loans via Morpho

Bankless · ·by G4L

COIN Coinbase Global Inc
$134.76 -1.51%
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  1. 1Coinbase enables eligible users to borrow USDC using PAX Gold (PAXG) as collateral within the app.
  2. 2Morpho holds approximately $3.4 billion in Coinbase-related collateral and over $1.7 billion in Coinbase-related active loans.
  3. 3The liquidation loan-to-value ratio in the Morpho market is set at 77%.

So what's the key point?

Coinbase has started a service where users can deposit gold-backed coins to borrow other coins. This service may be affected by Morpho's loan volume, which reaches $3.4 billion.

Source Bankless · View original ↗

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