Moonwell establishes USDC Vault for Coinbase’s crypto-backed loans

Coinbase has announced the expansion of its crypto-backed loan offerings through the Moonwell Flagship USDC Vault on its layer-2 network, Base. This vault serves as a crucial liquidity source, enabling users to instantly borrow USDC using various cryptocurrencies as collateral, including XRP, DOGE, ADA, LTC, and the previously available BTC and ETH. The scaling of these loan offerings addresses the increasing demand for on-exchange lending liquidity, allowing users to maximize their assets directly within the Coinbase app.

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