MONEY & BUSINESS: Coinbase to launch new lending platform aimed at large institutional investors – One America News Network

By Jaiveer Shekhawat

(Reuters) – Crytocurrency exchange Coinbase Global is launching a digital asset lending platform aimed at large institutional investors, a company spokesperson told Reuters on Tuesday.

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Coinbase has raised $57 million for its new crypto-lending platform, a regulatory filing showed.

The crypto industry, which was reeling from several high profile failures, got a boost last week after a three-judge panel ruled that the Securities and Exchange Commission (SEC) was wrong in rejecting Grayscale’s proposed bitcoin ETF without explaining its reasoning.

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Coinbase last month had secured approval to offer cryptocurrency futures to U.S. retail customers, scoring a major regulatory win.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shailesh Kuber)