Coinbase Joins Apollo to Expand Credit Solutions with Stablecoins

TLDR

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Coinbase Asset Management has partnered with Apollo Global Management to expand its stablecoin credit services.
The collaboration focuses on over-collateralized asset lending, corporate direct lending, and tokenized credit holdings.
Coinbase users will be able to borrow against their digital assets and invest in tokenized credit products.
Anthony Bassili, president of Coinbase Asset Management, highlighted the unique opportunities within the global stablecoin ecosystem.
Coinbase plans to offer enhanced digital payment methods, including fiat-to-stablecoin payouts, in collaboration with banking partners such as Citi.

Coinbase Asset Management has partnered with Apollo Global Management to enhance its stablecoin credit services. This collaboration focuses on over-collateralized asset lending, corporate direct lending, and tokenized credit holdings. These services aim to provide new ways for users to borrow against digital assets and invest in tokenized credit products.

New Borrowing Options with Coinbase and Apollo

The partnership enables Coinbase to offer new borrowing and lending options for its users. With these services, users can now use digital assets as collateral to secure loans. Additionally, the collaboration includes direct lending to both traditional and digital-first companies, expanding the scope of lending options available.

According to Anthony Bassili, president of Coinbase Asset Management,

“The global stablecoin ecosystem, which operates 24/7 on blockchain rails, creates opportunities not available in traditional private credit portfolios.”

This statement highlights the unique potential of stablecoins in revolutionizing the credit landscape. By leveraging blockchain technology, Coinbase and Apollo aim to introduce new financial products to institutional markets.

Expanding Digital Payment Services

Alongside expanding its credit services, Coinbase is exploring ways to enhance digital payment methods. The company is collaborating with major banking partners, such as Citi, to develop fiat-to-stablecoin payout systems. This initiative is designed to improve the efficiency of digital payments, making it easier for users to access their funds.

The partnership with Apollo also accelerates the tokenization of credit markets. Christine Moy, a partner at Apollo, stated,

“Partnering with Coinbase accelerates our vision of tokenizing credit markets and demonstrates how Apollo’s credit expertise and tokenization strategy can power new forms of yield generation.”

This collaboration aims to introduce institutional investors to new ways of generating returns through tokenized credit products.

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