Hi folks — we built a new product at @coinbase that lets you borrow USDC against Bitcoin, fully onchain and dead simple to use. 

We call this the DeFi mullet. CeFi in the front and DeFi in the back. 

This was a year long project with first principles thinking. 

➡️ Doing an AMA through the weekend. Fire away questions or thoughts.

Product @ Coinbase. Techno optimist 🛠️

Stay Curious // iixii // Lazer Technologies // Prev: CoinDesk, Roc Nation // based

No minimums. We just provide whatever is doable on DeFi via Morpho. 

Requirement today is that you need to be a Coinbase verified user in the US (excl. NY). 

The loan limits are currently capped to ~$100k to ensure product quality but will be raised soon.

Ugh NY always gets excluded for the cool stuff 

Why is NY excluded?  Bitlicense?

doing the right thing.
working hard.
being optimistic.
putting the team over the individual.
pushing boundaries with creativity.

Yeah the U.S. crypto capital really needs to catch up

I can’t wait for NY to catch up. 

It’s been the financial capital of the world but if NY continues to lag in DeFi, they’re creating opportunities for others to compete

We take careful considerations of the legal statute and ensure rigorous procedures are followed while working with regulators. 

Can’t comment on any specifics as to NY, but we hope to expand soon and work on the right direction while following best practices. 

Hope to get there at some point.