Coinbase 推出新的比特币支持 USDC 贷款产品，最高可达 100,000 美元

Coinbase 是领先的加密货币交易平台之一，推出了新的比特币支持的 USDC 贷款产品，金额高达 100,000 美元

Coinbase, the renowned cryptocurrency exchange, has ventured into the realm of decentralized finance (DeFi) with the launch of a new Bitcoin-backed loan service. This offering allows users to borrow up to $100,000 in USDC, a stablecoin pegged to the US dollar, using their Bitcoin holdings as collateral.

著名的加密货币交易所 Coinbase 推出了新的比特币支持的贷款服务，进军去中心化金融 (DeFi) 领域。该产品允许用户使用持有的比特币作为抵押品借入最多 10 万美元的 USDC（一种与美元挂钩的稳定币）。

The integration with the Base network, a scalable Ethereum layer 2 incubated by Coinbase, enables efficient operations and greater scalability. While the loan process is facilitated by Morpho, a leading DeFi protocol, it operates exclusively on the Base network and not on Ethereum.

与 Coinbase 孵化的可扩展以太坊第 2 层 Base 网络的集成可实现高效运营和更大的可扩展性。虽然贷款流程是由领先的 DeFi 协议 Morpho 推动的，但它仅在 Base 网络上运行，而不是在以太坊上运行。

This marks a significant shift from Coinbase's previous Bitcoin-backed loan offering through its “Borrow” program, which was discontinued in 2023 to prioritize higher-demand products. Now, Coinbase is re-entering the market with a more DeFi-centric approach.

这标志着 Coinbase 之前通过“借”计划提供比特币支持的贷款的重大转变，该计划于 2023 年停止，以优先考虑需求较高的产品。现在，Coinbase 正以更加以 DeFi 为中心的方式重新进入市场。

Morpho, one of the largest DeFi protocols, boasts over $3.7 billion in total value locked (TVL), as reported by DefiLlama. The protocol has garnered support from a range of investors, including a16z Crypto, Ribbit Capital, Pantera Capital, and Coinbase Ventures.

据 DefiLlama 报道，Morpho 是最大的 DeFi 协议之一，其锁定总价值 (TVL) 超过 37 亿美元。该协议获得了一系列投资者的支持，包括 a16z Crypto、Ribbit Capital、Pantera Capital 和 Coinbase Ventures。

In this collaboration, Morpho handles the technical execution of the loan, while Coinbase serves as the access interface, ensuring a seamless user experience. When a customer initiates a loan request, their Bitcoin is automatically converted into Coinbase-wrapped Bitcoin (cbBTC) and transferred to Morpho. Within less than a minute, the customer receives the loan in USDC directly in their Coinbase account.

在此次合作中，Morpho 负责贷款的技术执行，而 Coinbase 则充当访问接口，确保无缝的用户体验。当客户发起贷款请求时，他们的比特币会自动转换为 Coinbase 包装的比特币（cbBTC）并转移到 Morpho。不到一分钟的时间，客户就可以直接在其 Coinbase 账户中收到 USDC 贷款。

These loans are over-collateralized, stipulating a minimum collateralization ratio of 133%. Customers have the flexibility to adjust their loan-to-value (LTV) ratio within this range. If the collateral value drops to 86%, the Bitcoin will be liquidated to cover the loan and any penalties, maintaining the stability of the loan.

这些贷款是超额抵押的，规定最低抵押率为 133%。客户可以在此范围内灵活调整贷款价值（LTV）比率。如果抵押品价值跌至 86%，比特币将被清算以支付贷款和任何罚款，从而保持贷款的稳定性。

The interest rates are variable and adjust automatically based on market conditions. Furthermore, the payment schedule is flexible, allowing customers to repay at their own pace as long as they maintain an appropriate LTV ratio, providing greater control over their finances.

利率是可变的，并根据市场情况自动调整。此外，还款时间表灵活，只要客户保持适当的贷款价值比，就可以按照自己的节奏还款，从而更好地控制自己的财务。

This option is initially available only to Coinbase users in the U.S. (excluding New York), with plans to expand to other markets in the future. This service aims to meet the growing demand for innovative financial products in the cryptocurrency space.

该选项最初仅适用于美国（不包括纽约）的 Coinbase 用户，未来计划扩展到其他市场。该服务旨在满足加密货币领域对创新金融产品不断增长的需求。