Jobs in Arizona – Crypto exchange Coinbase announced that it is opening its Bitcoin (BTC) lending service across the United States (US), except for New York State.
“On April 30, 2025, customers will be able to borrow up to $1 million in USDC against their Bitcoin to cover any living expenses without selling their Bitcoin,” Coinbase wrote in a post on its official X social media platform, as quoted from News.bitcoin.com, Thursday (1/5/2025).
This marks the official launch of Bitcoin lending nationwide, which launched in January 2025 and has seen rapid growth since.
Coinbase said it has seen strong customer demand.
“$100 million USDC borrowed in under 100 days. Enjoy interest rates as low as 5% – 2x lower than other crypto-backed lending options. Plus no hidden fees,” it said.
The loans allow users to access liquidity without triggering a taxable event by using Bitcoin as collateral.
Once the loan is initiated, the Bitcoin is automatically converted to cbBTC, Coinbase’s wrapped version of bitcoin, and deposited into Morpho—a decentralized lending protocol built on Base, the company’s layer-2 Ethereum network.
Funds are disbursed in USDC almost instantly, and repayment terms remain open with no fixed timeline.