Coinbase recently enters in the DeFi Yield earning service. There’s always something new happening in the world of cryptocurrency and that’s apparent by the recent news from Coinbase. The exchange has announced that they’ll be giving their customers from over 70 countries access to earning yields on cryptocurrency DAI, a stablecoin. Coinbase has said the setup procedure is easy with no complicated terms to worry about. The firm believes blockchain can help people become financially free.
Coinbase Added an Offering of Defi Yield earning for the Defi Stablecoin Issued by Makerdao
Coinbase has opened up 70 countries to its services, giving customers around the world more options when it comes to trading in cryptocurrencies. Coinbase has just announced the acquisition of two new companies, BRD wallet, and Unbound Security. Customers in these countries will now be able to receive the benefits of a defi coin, a stablecoin issued by MakerDAO called DAI.
“Today we’re introducing a new way for Coinbase’s global customers to put their crypto to work and earn the profits they deserve. More information is available at our website.” “We are making Defi more accessible, enabling eligible customers in over 70 countries to access the attractive yields of DFIs from their Dai with no fees, lockups, or set-up hassle.”
Coinbase is now working with Defi to provide loans to Coinbase customers in eligible jurisdictions.
To participate in making DAI dosh with Coinbase, you will need to access the DAI section of the app or website. Users need a good balance of DAI to earn and will need to be located in eligible jurisdictions. Coinbase has been interested in the idea of becoming involved with cryptocurrency-based giving and lending programs for a while. The company had planned to introduce a lending product in the past but they were threatened by the U.S. Securities and Exchange Commission and given “forbearance.”
In a recent announcement, Coinbase has decided to suspend the Nasdaq-listed cryptocurrency exchange. They have also terminated the Defi yield earning service offered by Coinbase, which is currently unavailable for those from certain countries outside of the United States. Coinbase aims to offer yield on more assets and protocols going forward.