Cryptocurrency exchange Coinbase announced that qualified customers in more than 70 countries can now earn income through DeFi.
Cryptocurrency exchange Coinbase announced that customers in more than 70 countries/regions can earn income through the world of decentralized finance (DeFi) through the cryptocurrency they hold. arrive
Coinbase said in a prepared statement: “We are making DeFi more accessible, enabling qualified customers in more than 70 countries to obtain attractive DeFi loan yields on their DAI without any cost, lock-in Or troublesome settings.
At the core of this move is Coinbase's desire to make DeFi "more customer-friendly and approachable."
With DAI stablecoin, customers can choose to join to earn DeFi income. Customers' DAI assets will be stored in Compound Finance, which Coinbase describes as an "industry-leading" DeFi protocol. However, the interest on this rate of return is variable.
For example, in October, Compound's rate of providing DAI fluctuated between 2.8% and 5.3%. Coinbase stated: "Higher interest rates reflect both the unique way to obtain global liquidity and the increased risk that DeFi may bring."
Despite this risk, Coinbase is still optimistic about the prospects of DeFi. The exchange added: "DeFi has great potential to help increase economic freedom, and we are excited to provide a trusted and easily accessible way to participate."
However, this announcement has an obvious omission.
Although the service has been launched to 70 eligible countries, including major economies such as Germany and the United Kingdom, Coinbase’s DeFi benefits have not yet been provided to US customers.
U.S., Coinbase and DeFi
In September, when the U.S. Securities and Exchange Commission (SEC) threatened to sue the exchange, Coinbase CEO Brian Armstrong made a statement on Twitter on the premise that the exchange launched the Lend Income products.
"The SEC has recently seen some very rude behavior," said Armstrong, who regretted the SEC's statement that Coinbase's Lend would become a security, and his position was widely criticized at the time.
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source https://www.reddit.com/r/btc/comments/rcor0i/coinbase_launches_highinterest_defi_benefits_to/
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