Coinbase：一步一步打造美国链上银行

Coinbase 将自己战略定位为美国首选的链上银行。从 ETH 支持的贷款到 DeFi 集成，以下是内幕消息。

Coinbase: Building the On-Chain Bank of the US, One Step at a Time

Coinbase：一步一步打造美国链上银行

Coinbase is strategically positioning itself as the go-to on-chain bank in the US. From ETH-backed loans to DeFi integrations, here's the inside scoop.

Coinbase 将自己战略定位为美国首选的链上银行。从 ETH 支持的贷款到 DeFi 集成，以下是内幕消息。

Coinbase's Ambitious Vision

Coinbase 的雄心勃勃的愿景

Forget just another crypto exchange feature. Coinbase is laser-focused on building a comprehensive, US-compliant financial system that operates on-chain, bypassing traditional Wall Street infrastructure. Think of it as a crypto-native financial hub.

忘记另一个加密货币交换功能吧。 Coinbase 专注于构建一个全面的、符合美国标准的、在链上运行的金融系统，绕过传统的华尔街基础设施。将其视为加密货币原生金融中心。

ETH-Backed Loans: A Key Piece of the Puzzle

ETH 支持的贷款：难题的关键部分

The recent launch of ETH-collateralized loans for US users (excluding New York, *bummer*) is a significant step. Users can now borrow USDC against their ETH holdings, unlocking liquidity without having to sell. This service, powered by Morpho on Base, isn't just a new feature; it's a strategic move to make crypto assets more usable and less speculative.

最近为美国用户（不包括纽约，*令人失望*）推出的 ETH 抵押贷款是重要的一步。用户现在可以用其持有的 ETH 借入 USDC，无需出售即可释放流动性。这项服务由 Morpho on Base 提供支持，它不仅仅是一项新功能，而且是一项新功能。这是一项战略举措，旨在提高加密资产的可用性并减少投机性。

The Numbers Don't Lie

数字不会说谎

Coinbase's on-chain lending was already substantial before this latest product launch. Data reveals over $1.25 billion in loan originations, backed by $1.37 billion in collateral. This isn't just about starting something new; it's about scaling something that's already working. The Morpho integration, offering attractive yields on USDC, paved the way for deeper lending products.

在最新产品推出之前，Coinbase 的链上借贷已经很可观。数据显示，贷款发放额超过 12.5 亿美元，并有 13.7 亿美元的抵押品支持。这不仅仅是开始新事物；这是关于扩展已经有效的东西。 Morpho 集成为 USDC 提供了有吸引力的收益率，为更深层次的贷款产品铺平了道路。

A Domino Effect of Innovation

创新的多米诺骨牌效应

Coinbase's recent moves resemble a carefully planned domino sequence. Integrations, partnerships – they all point to a bigger picture: an American crypto bank built on public infrastructure. With clearer regulatory frameworks emerging in the US, Coinbase is operating with more confidence and speed.

Coinbase 最近的举动就像精心策划的多米诺骨牌序列。整合、合作——它们都指向了一个更大的图景：一个建立在公共基础设施上的美国加密银行。随着美国出现更清晰的监管框架，Coinbase 的运营更加自信、更加快速。

What's Next? Prediction Markets, Perhaps?

接下来是什么？也许是预测市场？

Rumors suggest Coinbase is exploring prediction markets, potentially using Kalshi infrastructure. This move would further expand its reach into areas traditional financial institutions have avoided. It reinforces the idea that Coinbase aims to be the default US gateway for all things crypto finance – lending, staking, fundraising, payments, trading, and even markets yet to be imagined.

有传言称 Coinbase 正在探索预测市场，可能会使用 Kalshi 基础设施。此举将进一步扩大其触角，进入传统金融机构回避的领域。它强化了这样一个理念：Coinbase 的目标是成为所有加密金融领域的默认美国门户——借贷、质押、筹款、支付、交易，甚至还有尚未想象的市场。

My Two Satoshis

我的两个中本聪

Coinbase's strategy is smart. By focusing on compliance and user-friendliness, they're making crypto more accessible to the average American. The ETH-backed loans are a game-changer, providing a practical way to leverage crypto holdings. The key will be navigating the regulatory landscape and continuing to innovate while maintaining user trust.

Coinbase 的策略很聪明。通过关注合规性和用户友好性，他们使普通美国人更容易使用加密货币。 ETH 支持的贷款改变了游戏规则，提供了一种利用加密资产的实用方法。关键是适应监管环境并持续创新，同时保持用户信任。

Final Thoughts

最后的想法

So, there you have it. Coinbase isn't just building a crypto exchange; it's building an on-chain bank for the US. It's an exciting time to watch how this unfolds. Who knows, maybe one day we'll all be banking with crypto. And if that isn't wild, what is?

所以，你就知道了。 Coinbase 不仅仅是建立一个加密货币交易所；它还致力于建立一个加密货币交易所。它正在为美国建立一家链上银行。现在是一个令人兴奋的时刻来观察这一切如何展开。谁知道呢，也许有一天我们都会用加密货币进行银行业务。如果这都不算疯狂，那什么才算呢？