Coinbase Global Inc. on August 12, revived its StableCoin bootstrap fund, revived a program started in 2019 to feed liquidity in dollars in chain.
Coinbase Global Inc. on August 12, revived its StableCoin bootstrap fund, revived a program started in 2019 to feed liquidity in dollars in chain. The initiative, now managed by Coinbase Asset Management, is designed to deepen the markets of tokens pointed out of a dollar in sites with decentralized finance.
The fund will initially provide the USDC and EURC Stablecoins in Aave, Morpho, Kamino and Jupiter, with additional protocols invited to request support on the basic chain of Coinbase and other networks. Although the exchange has not disclosed the size of the swimming pool, he said that the allowances will be set up over time and could extend to other stablescoins.
Coinbase supported this decision in response to the acceleration of the demand for chain credit, citing a record of $ 40.7 billion in Active DEFI loans. The USDC already anchors approximately $ 8.9 billion in total value of locked deffi and processes approximately 2.7 billions of dollars of annual volume on the chain, according to the company, which expects additional liquidity to reduce loan costs and expand the adoption of stables.
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