Coinbase finally introduces DeFi yield product, bars United States users

2021-12-10 19:30

In September, the United States Securities and Exchange Commission (SEC) and the leading crypto exchange in the country, Coinbase, were at loggerheads over the crypto firm’s proposed yield program which the financial regulator considered to be a direct violation of its securities law.

While the exchange has since dropped its plan to launch the program in the United States, it has gone ahead to introduce the decentralized finance (DeFi) yield product in 70 other countries.

Coinbase introduces DeFi yield in 70 countries

According to a press statement released by Coinbase on Thursday, the crypto exchange will be providing exposure to DeFi for its customers who are looking to put their digital asset to work. For a start, users would be able to lend and borrow assets, like DAI —a Stablecoin.

DeFi has tremendous potential to help increase economic freedom, and we’re excited to be able to provide a trusted and accessible way to participate.

DeFi, no doubt, has recorded tremendous growth in this year. However, access to the space is still very much limited as it involves some level of technicalities that an average user might find difficult to navigate.

Coinbase looks to democratize access to the space by introducing its global customers to what many analysts have predicted to be the future of the world’s financial system.

How it will work

To enjoy Coinbase’s DeFi yield program, customers in the 70 countries would opt-in with their DAI stablecoin. This means that customers would deposit their DAI tokens with Compound Finance, the leader in the decentralized protocol.

It should be noted that the interest on this yield product might vary sometimes. According to Coinbase, the annual percentage yield (APY) for DAI supply was between 2.83% and 5.39% in the month of October.

The Brian Armstrong-led exchange revealed that it would be covering the transaction fees attached to this product, however, it beseeched its users “to make an informed investment decision” as it cannot guarantee that there wouldn’t be losses.

The post Coinbase finally introduces DeFi yield product, bars United States users appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

United Bitcoin (UBTC) на Currencies.ru

$ 0.9661 (-0.95%)
Объем 24H $0
Изменеия 24h: 2.25 %, 7d: -8.21 %
Cегодня L: $0.9661 - H: $0.9661
Капитализация $0 Rank 8588
Цена в час новости $ 0.3415 (182.9%)

securities coinbase exchange states crypto yield united

securities coinbase → Результатов: 126


Coinbase получила одобрение регуляторов на листинг security-токенов

Комиссия по ценным бумагам и биржам США (SEC) и Агентство по регулированию деятельности финансовых институтов (FINRA) одобрили сделку по покупке брокер-дилеров Keystone Capital Corp. , Venovate Marketplace Inc.

2018-7-17 10:17


Coinbase Custody broker-dealer previously charged with putting customer assets at risk

Coinbase’s new solution for institutional investors launched yesterday to great fanfare. It offers solutions for long-awaited institutional money to flow into the market. Electronic Transaction Clearing [ETC], the registered broker-dealer through which Coinbase aims to conduct transactions, was charged by the US Securities and Exchanges Commission [SEC], earlier this year. The charges against it were […]

2018-7-4 00:58


Фото:

Coinbase: Over 100 Pages of SEC Complaints Reveal Fraud Allegations

Leading U. S. cryptocurrency exchange Coinbase is under heavy criticism by its users for being underprepared to handle increasing demand. Coinbase Not Ready For Its Own Success The criticism was documented by a five-month Freedom of Information Act (FOIA) process, which comprised a total of 134 pages of complaints filed by users of the exchange with the U.

2018-6-25 21:00


Фото:

Coinbase Fraud Accusations Could Set Coinbase Domination Plans Back

Coinbase want to become the worlds biggest and best cryptocurrency exchange. This is hardly surprising as I am sure every cryptocurrency exchange would want to achieve that accolade. Either way, we are seeing reports today that discuss how Coinbase has had a number of complaints filed against it in the United States, complaints that now looking to be engaging the involvement of the US Securities and Exchange Commission (SEC).

2018-6-22 18:00


Фото:

Confirmation Regarding Ripple XRP As A Security, What’s Been Said?

The security debate continues to surround Ripple and Ripple XRP, the native currency to the Ripple network. Very recently, the United States Securities and Exchange Commission (SEC) have spoken out stating that both Bitcoin and Ethereum do not carry the necessary attributes to be considered a security however, there’s still no official news regarding XRP.

2018-6-18 14:00