Coinbase Joins DeFi Trend With 2M USDC Investment By Cryptovest

Coinbase Joins DeFi Trend With 2M USDC Investment

The DeFi trend is accelerating and gaining acceptance, with Coinbase joining the fray. The leading brokerage has created the Coinbase Bootstrap Fund, to boost DeFi projects. Coinbase will invest in two projects, the Compound crypto lending scheme, and the dy/dx crypto derivative exchange.

Each project will receive 1 million USDC, a dollar-pegged stablecoin issued in partnership with Circle, Inc.

Decentralized Finance, or DeFi, has been a term that confuses many. More and more schemes of high annualized returns are cropping up, offering variations of lending or staking digital coins. As (ETH) and altcoins weakened their market returns in 2019, they are now accepted as collateral in le…

This article appeared first on Cryptovest

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