Crypto.com follows Coinbase’s $1bn DeFi-backed lending with Morpho deal – DL News
- Crypto.com plans to offer customers DeFi-backed loans.
- Lending protocol Morpho will facilitate them.
- It’s a similar deal to the one Coinbase made with Morpho in January.
Crypto.com plans to offer customers the ability to borrow against their crypto deposits following the success of a similar feature on rival exchange Coinbase.
On Thursday, the crypto exchange announced a partnership with Morpho, the second-biggest decentralised finance lending protocol. Morpho will facilitate the loans and deploy its lending protocol on Cronos, a blockchain created by Crypto.com, as part of the tie-up.
“Our mission has always been to accelerate the world’s transition to cryptocurrency, and this collaboration with Morpho and Cronos is a powerful step in…
