Coinbase Offers Access to DeFi Yields With DAI and Compound

The popular cryptocurrency exchange Coinbase has announced the launch of its first set of DeFi securities, which are available to investors both in the U.S. and international markets. The assets offered by the company at this time include two stablecoins: DAI and Compound (CURRENCY:PETH).

Coinbase is not disclosing the fees associated with trading these assets, but it does say that it charges a fee when they buy or sell these securities on behalf of their clients.

Recently, the company announced that users can earn interest on their Bitcoin or Ethereum deposits by supplying DAI to Compound – a decentralized lending protocol. With the returns ranging from 2.83% to 6%, this is an excellent way for people to invest in Bitcoin, Ethereum, and other cryptos while making money off of it at the same time.

The company said that more assets and other DeFi protocols will follow, Coinbase said in a blog post.

The Coinbase blog says “Today we’re introducing a new way for Coinbase’s global customers to put their crypto to work and earn yield. We are making DeFi more accessible, enabling eligible customers in more than 70 countries to access the attractive yields of DeFi lending on their Dai with no fees, lockups, or set-up hassle,”.

Tags

Share this post:

Related Posts
Category

For any enquiries, contact us at neewbitcoinnews@gmail.com