Coinbase already has 68 million verified users, and the lure of a risk-light path to generating 4% interest on essentially idle cash would been a huge retention tool. If Robinhood is about to graduate from being a crypto exchange on training wheels it could leave tread marks on Coinbase.Ĭoinbase Lend wouldn't have made all of these problems go away, but it would've made things better. Bloomberg is reporting this week that Robinhood Markets (NASDAQ: HOOD) is testing features for crypto wallets and the ability to transfer cryptocurrencies, options that are surprisingly lacking. There's also a fellow digital giant that could be ready to step up its crypto game. The Securities and Exchange Commission had other plans, sending a Wells notice to Coinbase two weeks ago to delay if not outright block its launch of Coinbase Lend. All's well that ends WellsĬoinbase was on track to launch a compelling investment vehicle that would've brought more conservative income investors to its virtual door. It's back to the drawing board for Coinbase.

It could've been a game-changing moment for cryptocurrency exchanges in general and Coinbase in particular, but it wasn't to be.

There are smaller platforms offering heartier payout rates for lending and staking cryptocurrencies, but in this particular case Coinbase was willing to guarantee the principal. dollars - would've earned 4% in annual interest if they let Coinbase borrow it to lend out. Traders on the platform holding USD Coin (CRYPTO: USDC) - a Coinbase-issued stablecoin that can always be swapped 1-to-1 for U.S. The leading crypto exchange is suspending its Coinbase Lend program before the high-yielding investing option had a chance to launch.Ĭoinbase Lend turned heads when it was unveiled by the fast-growing exchange three months ago. You can lend Coinbase Global (NASDAQ: COIN) a hand, but you can't hand it to Coinbase Lend. Institutional Distribution Intelligence.Non-Traditional Exchanges & New Markets.

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