Coinbase Facilitates $1 Billion in Onchain Loans Using Bitcoin
- Coinbase has facilitated $1 billion in onchain loans using bitcoin as collateral.
- CEO Brian Armstrong aims to increase this figure by a factor of 100, targeting $100 billion.
- The announcement was made on social media by Coinbase and Brian Armstrong.
Coinbase’s recent achievement in facilitating $1 billion in onchain loans marks a significant milestone for the company, with DeFi credit witnessing substantial growth. CEO Brian Armstrong’s ambitious target of reaching $100 billion underscores the potential expansion within the onchain lending sector.
This development highlights Coinbase’s strategic move to leverage Bitcoin as collateral, aiming for exponential growth in the decentralized finance landscape. (Source)
