Coinbase lists PAXG as collateral for USDC loans
COIN Coinbase Global Inc
$136.10 +0.99%
View chart & analysis → - 1Paxos launched the gold-backed PAXG token on the Base network on November 6.
- 2Morpho announced that Coinbase users can borrow USDC using PAXG as collateral through the new market on Base.
- 3Coinbase will update PAXG collateral prices for approximately 23 hours during weekdays when the Coinbase gold market is open and prices are updated.
So what's the key point?
Users can now deposit gold tokens on Coinbase to borrow other virtual assets. This provides a new opportunity for users to utilize gold as collateral.
Source CryptoSlate +3 · View original ↗
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