Contents and sources 1 sections

Key points

  • The announcement specifies availability in the United States, excluding New York.

Borrowing against tokenized gold

Coinbase announced on November 6 that users can now borrow USDC instantly against PAX Gold (PAXG), without first selling their PAXG. The service uses the Morpho lending protocol on Base. The announcement specifies availability in the United States, excluding New York.[1][2]

Coinbase said availability and terms vary by jurisdiction and remain subject to eligibility and market conditions. Rates are variable and may change, and loans carry risks including collateral liquidation. Coinbase does not provide tax, legal or investment advice and directs users to consult their own advisers.[3]

Sources & further reading

(4)

When checking a claim, compare the source date, measurement period and conditions. Some linked pages change over time.

  1. Coinbase announces PAXG-backed USDC borrowing (opens in a new tab)
    CoinbasePublished Accessed
    Back to citation in section 1 ↑
  2. Coinbase specifies US availability excluding New York (opens in a new tab)
    CoinbasePublished Accessed
    Back to citation in section 1 ↑
  3. Coinbase PAXG loan eligibility and risk notice (opens in a new tab)
    CoinbasePublished Accessed
    Back to citation in section 1 ↑
  4. Odaily newsflash 531798 (opens in a new tab)
    OdailyPublished Accessed

For information and education, not investment advice. Crypto assets are volatile. Verify independently.

Author and editorial process ↗Found an error? Let us know ↗
Explore this section ↗