According to ChainCatcher, Coinbase's Product Head Max Branzburg cited Dune data stating that Coinbase users have lent over $400 million in USDC through on-chain mechanisms so far, with an annual interest rate of approximately 5%. The lending feature has grown rapidly within months of its launch.
Max mentioned that users are utilizing this feature to borrow loans with BTC as collateral, allowing them to raise funds without selling their assets.
