December 9, 2021 11:15 pm
Original Link: https://www.theverge.com/2021/12/9/22826888/coinbase-defi-interest-non-us-compound-lending-program
Coinbase will let users earn interest on crypto but not in the US
Coinbase has announced that it’ll let users earn interest on their cryptocurrency by lending it to a decentralized finance app called Compound (via Bloomberg). The program isn’t currently available to US users, though, after plans for a similar feature got the company into trouble with the Securities and Exchange Commission.
Coinbase says that customers in over 70 countries will be able to lend their Dai, a stablecoin whose value is tied to the US dollar, to borrowers from within its app. The process works using a protocol called Compound, which programmatically pools money from lenders and collects interest on that money from borrowers. Coinbase’s pitch is that it makes the system more user-friendly — lending through Compound usually...
Original Link: https://www.theverge.com/2021/12/9/22826888/coinbase-defi-interest-non-us-compound-lending-program
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