Coinbase Launches Crypto-Backed Loan Service for UK Users

BroadChain has learned that at 22:16 on April 20, according to Cointelegraph, Coinbase has launched a loan product denominated in USDC for UK users, allowing them to use their holdings of Bitcoin (BTC), Ethereum (ETH), and Coinbase Wrapped Ethereum (cbETH) as collateral. This move marks the expansion of the exchange's lending services in the UK market, against the backdrop of the UK moving towards establishing a clear regulatory framework for cryptocurrencies. The UK Financial Conduct Authority (FCA) is developing relevant rules to regulate crypto asset activities.