Popular US-based cryptocurrency exchange Coinbase has announced that it will terminate its Bitcoin (BTC)-backed loan service Coinbase Borrow program.
Coinbase, which allows users in the US to get loans Coinbase Borrow your service will end explained. made via social media in the announcement, last day to get new loan 10 May when it is declared unpaid loans It was stated that there would be no change in it.
Users, 2021 of the year November Thanks to this program, which was launched in bitcoin of their assets to 40% much dollar in terms of debt could get. Although Coinbase did not explain why it decided to stop the loan service, it has been recently US regulators pressures may have had a clear influence on this decision. The company has recently focused on its operations outside the USA. Coinbase International ExchangeHe announced that he had come to life.
A Coinbase spokesperson told global media that the decision decreasing request And dynamic product with its policies He stated that it was related:
We regularly evaluate our products to make sure we prioritize the offers our customers care about most. From May 10, we will stop providing new loans through Coinbase Borrow. This decision has no impact on customers’ outstanding loans and they do not need to take any extra action at this time.