Coinbase 推出新服務，讓美國客戶利用比特幣 (BTC) 作為抵押品借入美元硬幣 (USDC)

這項創新功能是在最近的更新中宣布的，旨在為用戶提供快速且靈活的資金存取權限，而無需

Coinbase expands DeFi offerings with Bitcoin-backed USDC loans Coinbase users can now borrow USD Coin (USDC) against their Bitcoin (BTC) in a new service rolling out to US customers (except those in New York).

Coinbase 透過比特幣支援的 USDC 貸款擴展 DeFi 產品 Coinbase 用戶現在可以透過向美國客戶（紐約客戶除外）推出的一項新服務，以比特幣 (BTC) 借入美元代幣 (USDC)。

The new feature, announced in a recent update from the crypto exchange, is designed to give users quick and flexible access to funds without having to sell their Bitcoin.

加密貨幣交易所最近的更新中宣布了這項新功能，旨在讓用戶快速且靈活地獲得資金，而無需出售比特幣。

Here's how the process works:

過程的工作原理如下：

Coinbase users pledge their Bitcoin (BTC), which is then converted into cbBTC, a wrapped version of Bitcoin created by Coinbase for use in DeFi applications. This allows Bitcoin, which is normally unable to interact with DeFi protocols due to its technical framework, to be used in DeFi applications.

Coinbase 用戶質押他們的比特幣 (BTC)，然後將其轉換為 cbBTC，cbBTC 是 Coinbase 創建的比特幣包裝版本，用於 DeFi 應用程式。這使得通常由於其技術框架而無法與 DeFi 協議交互的比特幣可以用於 DeFi 應用。

The cbBTC is then deposited into Morpho, a DeFi lending protocol built on Coinbase's Base blockchain. In return, borrowers will receive USDC, a stablecoin pegged to the US dollar, which they can use for a variety of purposes, such as covering expenses, making international transfers, or converting it back into USD.

然後，cbBTC 存入 Morpho，這是一個基於 Coinbase 的 Base 區塊鏈構建的 DeFi 借貸協議。作為回報，借款人將收到 USDC，這是一種與美元掛鉤的穩定幣，他們可以將其用於多種目的，例如支付費用、進行國際轉帳或將其兌換回美元。

The interest rates on these loans will be adjusted dynamically based on market activity on the Base blockchain, reflecting Coinbase's efforts to integrate DeFi with user needs.

這些貸款的利率將根據 Base 區塊鏈上的市場活動動態調整，體現了 Coinbase 將 DeFi 與用戶需求結合的努力。

This loan service comes at a time when the crypto lending sector has been under increased scrutiny following the high-profile bankruptcies of entities like Celsius and BlockFi in 2022, which significantly eroded trust in crypto lending.

這項貸款服務的推出正值加密貨幣借貸行業在 2022 年 Celsius 和 BlockFi 等實體高調破產後受到越來越嚴格的審查之際，這大大削弱了人們對加密貨幣借貸的信任。

Coinbase's integration with Morpho allows the exchange to act as an intermediary in a bid to restore some of that confidence, offering a lending experience that is transparent and driven by smart contracts.

Coinbase 與 Morpho 的整合使交易所能夠充當中介機構，以恢復部分信心，提供透明且由智能合約驅動的借貸體驗。

There are no fixed repayment schedules, meaning that borrowers can repay the loan at their own pace, as long as the value of the Bitcoin collateral remains above a certain threshold relative to the loan amount.

沒有固定的還款時間表，這意味著借款人可以按照自己的步調償還貸款，只要比特幣抵押品的價值相對於貸款金額保持在一定閾值以上。

However, if the value of Bitcoin drops significantly, the system will automatically liquidate enough collateral to cover the loan, ensuring the protocol remains solvent.

然而，如果比特幣的價值大幅下跌，系統將自動清算足夠的抵押品來償還貸款，確保協議保持償付能力。

The benefits of crypto-backed loans such as these include the ability for users to avoid immediate capital gains taxes by borrowing against their assets instead of selling them, and the fact that these loans operate on blockchain technology, enabling transparent and efficient processes through automation.

諸如此類的加密支援貸款的好處包括用戶能夠透過以資產為抵押借款而不是出售資產來避免立即資本利得稅，以及這些貸款基於區塊鏈技術運作，透過自動化實現透明和高效的流程。