- Coinbase Global, a prominent cryptocurrency exchange, has unveiled plans to introduce a digital asset lending platform tailored for the benefit of significant institutional investors, as confirmed by a company spokesperson in a statement provided to Reuters on Tuesday. To support this endeavor, Coinbase successfully secured $57 million in funding, as indicated by a regulatory filing that was made public.
- This development comes at a time when the cryptocurrency industry is regaining momentum following several high-profile setbacks. Of particular note, a shift occurred last week when a three-judge panel ruled against the Securities and Exchange Commission (SEC), asserting that the SEC's rejection of Grayscale's proposed bitcoin ETF lacked sufficient justification.
Why it matters
In addition to these recent developments, Coinbase achieved a notable regulatory milestone last month by obtaining approval to offer cryptocurrency futures to retail customers in the United States, marking a significant victory in the regulatory landscape for the exchange.