Coinbase offers DeFi Yield product to users in 70 countries
In an effort to make decentralized finance (DeFi) more accessible to its customers, major U.S. cryptocurrency exchange Coinbase says it is allowing users in 70 countries to buy the DeFi revenue product using its DAI crypto holdings.
The exchange makes DeFi "more convenient and accessible for customers," as "eligible users will now be able to access DeFi's attractive yield without leaving their Coinbase account, with just a few clicks and no network fees," the exchange said in a statement.
The offered annual percentage yield (APY) "varies with Compound rates and will automatically update to reflect changes in the market. Compound rates are variable - for example, during October, the annual interest rate for DAI delivery fluctuated between 2.83% and 5.39%," the statement said.
