Coinbase has integrated USDC loans backed by PAX Gold (PAXG), the physical gold token issued by Paxos. The feature operates natively within its application, leveraging the smart contracts and decentralized markets of the Morpho Blue protocol deployed on the Base Layer-2 network. Gold in a vault. Liquidity in your account. You can now instantly borrow ...
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Coinbase allows eligible users to order USDC using PAX Gold as collateral, using a Morpho market in Base. The option avoids selling tokenized gold, although the service is not available in New York and provides a 77% settlement threshold.