"Real world" assets have entered DeFi, as the Maker protocol reportedly just minted $38,000 of dai stablecoins to finance a mortgage loan.
DeFi tokens are attracting investors as bitcoin's rally fades and new protocols are updated.
Bitcoin and ether may be pulling back from their all-time highs but alternative cryptos are starting to see action.
Maker's MKR token surged to its highest level in more than two years.
MakerDAO's ingestion of centralized stablecoins may help maintain a $ peg. But it could also invite more regulatory scrutiny.
The program applies to customers residing in the U.S., U.K., The Netherlands, Spain, France and Australia.
This is the first new cryptocurrency added by Coinbase Commerce since it added USDC in May 2019.
Though the industry is growing rapidly, a very small portion of addresses hold the majority of assets being locked and borrowed in the DeFi space.
Exchanges like Coinbase are stepping into the market for proof-of-stake cryptocurrencies, but will they boost engagement or centralize power?
Bitcoin may have ended a six-month losing streak in February, but MKR, THETA, ENJ and MET ensure it wasn't the crypto market's biggest winner.