Coinbase Product Head: Total On-chain Lending on Coinbase Exceeds $400 Million

ChainCatcher news, Coinbase product head Max Branzburg cited Dune data stating that as of now, Coinbase users have lent over $400 million USDC through on-chain mechanisms, with an annualized interest rate of about 5%. The lending feature has rapidly grown within months of its launch.

Max mentioned that users are leveraging this feature to take out loans collateralized by BTC, allowing them to raise funds without liquidating their assets.