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 <p>As per the recent filing with the U.S. Securities and Exchange Commission (SEC), customers of the <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> Prime service have already invested more than $57 million in the lending program. <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> Prime is the exchange’s full-service Prime brokerage platform allowing institutions to execute trade and custody assets. In a statement on Tuesday, the crypto exchange said:</p>  
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  <p>“With this service, institutions can choose to lend digital assets to <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> under standardized terms in a product that qualifies for a Regulation D exemption”.</p> 
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 <p>The development comes on the same day that <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> announces its $180 million bond buy-back program. <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> initially introduced its bond buyback initiative with a set cap of $150 million. Initially receiving a tepid response, the company has opted to expand the total amount allocated for repurchasing 2031 bonds to a significant $180 million.</p> 
 <h3 id="coinbase-and-crypto-lending">Coinbase and Crypto Lending</h3>  
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 <p><a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> has previously entered the lending space. In May, the company ceased offering new loans through a service that allowed individuals to borrow against their Bitcoin holdings, known as <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> Borrow, primarily catering to retail investors. The current institutional program operates under the same entity, <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> Credit.</p>  
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 <p>Additionally, in June, the SEC filed charges against <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> related to its unregistered offer and sale of securities linked to its staking-as-a-service program. This program permitted users to delegate their coins to <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> to earn yields for securing blockchain networks. A coalition of U.S. states demanded that <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> discontinue its staking services in response.</p> 
 <p>Notably, several prominent crypto lending platforms, including Celsius Network, BlockFi, and Genesis Global, faced financial distress in the past year. These lenders engaged in high-risk strategies that didn’t yield favorable outcomes, resulting in a domino effect of failures that significantly reduced borrowing options and leverage for investors.</p> 
</div>  
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-starts-crypto-lending-service-for-us-institutional-clients-tbt61674.html">https://thebittimes.com/coinbase-starts-crypto-lending-service-for-us-institutional-clients-tbt61674.html</a></p>

Coinbase Starts Crypto Lending Service for US Institutional Clients

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