Coinbase (Coin) said the Bitcoin-backed loan program has surpassed $ 1 billion in origin since the launch of January, which emphasized the growing demand for crypto as security.
The exchange currently offers retail customers in the USA The opportunity to borrow cash against Holdings through the on-Chain Morpho platform. A spokesperson said the average loan size is $ 54,000, but noticed that the company is planning to raise its borrowing tire from $ 1 million to $ 5 million in the coming weeks.
“We see some users borrowing up against the current $ 1 [million] Loan restriction and are also happy to meet their needs, “the spokesman said,” We work closely with the Morpho team to ensure that we maintain stable liquidity in the onchain locking protocol as we roll out to more customers with larger loans. “
The product is aimed at customers who want to access cash without selling their Bitcoin, a use case that mirrors how homeowners tap the equity or how companies utilize equipment. Coinbase said top applications include debt consolidation, covering large unexpected expenses such as medical bills or taxes, investment in real estate and buying high costs.
The move comes as the asset -based lending industry continues to expand. A July report projected that the market could reach $ 1.3 trillion by 2030, reflecting a broader interest in loans secured with assets beyond traditional real estate or vehicles.
By pushing the ceiling higher, Coinbase places itself to earn richer clients and investors who may want to borrow against larger Bitcoin Holdings.
The milestone highlights the stable integration of crypto into conventional economic practice.
