Coinbase Expands Borrow Program to Include XRP, ADA, DOGE, and LTC
What’s new
Generally, Coinbase just added four more coins, XRP, ADA, DOGE, and LTC, to its Borrow service, letting U.S. users borrow up to $100K in USDC using any of them as collateral, which is a big deal. Normally, you would have to use Bitcoin or Ethereum to get a loan. Now, you can use these other coins too. Obviously, this is a good thing for people who own these coins.
How the loan works now
Why Coinbase is doing thisProbably, the exchange wants more people to use its Borrow service, so it’s adding more coins to make it more useful. Hopefully, this will attract more users to the platform. Apparently, the company thinks this will be a good thing for its business. Naturally, the more options people have, the more likely they are to use the service.
