The leading cryptocurrency exchange – Coinbase – has reportedly started offering crypto loans to US institutional investors. 

The move could signal the company’s willingness to strengthen its position in America despite the regulatory uncertainty and the issues with local watchdogs. Recall that the US SEC filed a lawsuit against Coinbase in June, accusing the trading venue of breaching several rules and offering trading services with unregistered securities.

Capitalizing on the Vacuum

Based on a recent Bloomberg coverage, the firm’s new offering is operated through an entity called Coinbase Credit. The source also informed that Prime customers have already distributed almost $60 million in the lending program. 

“With this service, institutions can choose to lend digital assets to Coinbase under standardized terms in a product that qualifies for a Regulation D exemption,” the crypto exchange explained.

Offering crypto loans seems to be a market niche that needs new providers since some of the leading cryptocurrency lenders filed for bankruptcy during the prolonged bear market. Such examples are Celsius Network, BlockFi, and Genesis. 

Re-focusing on the American market comes on the back of numerous regulatory hurdles that Coinbase has faced in the past several mo