Coinbase to launch new lending platform aimed at large institutional investors

Crytocurrency exchange Coinbase Global is launching a digital asset lending platform aimed at large institutional investors, a company spokesperson told Reuters on Tuesday.

Coinbase has raised $57 million for its new crypto-lending platform, a regulatory filing showed.

The crypto industry, which was reeling from several high profile failures, got a boost last week after a three-judge panel ruled that the Securities and Exchange Commission (SEC) was wrong in rejecting Grayscale’s proposed bitcoin ETF without explaining its reasoning.