Coinbase unveils crypto lending platforms for investors

Alex Omenye
Alex Omenye
BRAZIL - 2021/04/14: In this photo illustration, the Coinbase logo seen displayed on a smartphone screen with the logo of Nasdaq in the background. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)

Cryptocurrency exchange Coinbase Global is introducing a digital asset financing platform targeted at significant institutional investors.

According to a regulatory filing, Coinba has raised $57 million for its new cryptocurrency lending business.

After a three-judge court concluded that the Securities and Exchange Commission erred in rejecting Grayscale’s proposed bitcoin ETF without providing a justification, the cryptocurrency industry, which was reeling from many high-profile failures, received a lift last week.

A significant regulatory victory was achieved by Coinbase last month when it received permission to market cryptocurrency futures to American retail consumers.

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