Coinbase will be doing Bitcoin backed loans (paid in USDC) by leveraging their Ethereum L2, Base. Not a bad model really if they can nail the UI but interest rates could get pretty high (see image) based on utilization rate.

I’ll just keep waiting for nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle to launch Strike Loans. I’m not touching Coinbase or their stablecoin.