THE STREET · 2026-11-06 19:36 UTC

Coinbase has news for gold holders

Coinbase now lets customers who hold PAX Gold, a token backed by physical gold, pledge it and instantly borrow USDC, its first lending product beyond cryptocurrencies. The loans run on Morpho's onchain lending protocol and Base, are available in the U.S. excluding New York, and have variable rates set by market supply and demand. Positions can be liquidated if the gold collateral falls too far against the debt; the product extends a Bitcoin lending feature launched in January 2025, with onchain originations past $1 billion by October 2025.

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