Coinbase will let users earn interest on crypto but not in the US

Coinbase will let users earn interest on crypto but not in the US


Coinbase has announced that it’ll let users earn interest on their cryptocurrency by lending it to a decentralized finance app called Compound (via Bloomberg). The program isn’t currently available to US users, though, after plans for a similar feature got the company into trouble with the Securities and Exchange Commission.

Coinbase says that customers in over 70 countries will be able to lend their Dai, a stablecoin whose value is tied to the US dollar, to borrowers from within its app. The process works using a protocol called Compound, which programmatically pools money from lenders and collects interest on that money from borrowers. Coinbase’s pitch is that it makes the system more user-friendly — lending through Compound usually…

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