lending

Aave V4 launched Equities Hub on Base, allowing eligible non-U.S. users to use seven U.S. stock tokens issued by Coinbase as collateral to borrow USDC, covering Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla. The market is powered by Chainlink, providing on-chain price data for tokenized stocks. The initial collateral cap for the seven stocks is approximately $29 million, with a USDC supply cap of $32 million and a borrowing cap of $21 million. The collateralization rates for different stocks range from 65% to 79%.Currently, these stocks can only be used as collateral. Aave stated that more Coinbase tokenized stocks and GHO may be added as borrowable assets in the future after governance and risk assessments are approved.

According to a report released by Spartan Capital, Robinhood Chain will launch its mainnet on July 1, 2026. By the end of August, the on-chain DEX trading volume had risen to $1.5 billion, with a TVL increasing to $711 million, and on-chain gas revenue in August reached $6.6 million.The report shows that most of the trading volume in August came from Uniswap, with a single-day on-chain fee reaching $2.1 million on August 31. Robinhood is responsible for running the sequencer and receives about 90% of the on-chain fees. After deducting Ethereum settlement costs and the 10% licensing fee paid to Arbitrum DAO, the net income for August was approximately $6 million. Regarding Robinhood Earn, users deposit USDG and borrow through Morpho, with the deposit scale increasing from $9.5 million on July 1 to $456 million on August 31, accounting for 68% of Robinhood Chain's TVL at the end of the month. Users can earn an estimated annualized yield of about 7%, while the yield on the loan side was approximately 3.7% at the end of August, with the difference subsidized by reward funds provided by Morpho and its lending partners.Meanwhile, the Meme ecosystem of Robinhood Chain is growing rapidly. By the end of August, over 340,000 tokens had been issued on-chain, with application layer transaction fees reaching $114 million in August. The report states that the trading volume of Meme and tokenized stock trading pairs is also growing rapidly, with the trading volume of Meme tokens paired with Robinhood Stock Tokens reaching $518 million in August. The report points out that the current trading activity on Robinhood Chain is still mainly driven by crypto-native users, and Robinhood's own 27 million funded accounts have not yet been migrated to the chain on a large scale. The gas subsidies in the Robinhood wallet will continue until September 29, and the Earn yield is also planned to be gradually reduced.

The Solana ecosystem lending protocol Kamino has launched the sUSDai collateral market. This market is planned and operated by Allez Labs, and sUSDai is an asset linked to GPU loans.In this market, sUSDai holders can collateralize assets to borrow USDC, with a maximum loan-to-value ratio of 80%. Liquidation will be triggered when the collateralization ratio rises to 85%.

The European Banking Authority (EBA) calls for the inclusion of crypto lending in the EU's Markets in Crypto-Assets Regulation (MiCA) framework. In response to the European Commission's targeted consultation on MiCA, the EBA stated that lending activities involving crypto assets should be regulated, including situations where crypto asset service providers offer users access to decentralized finance (DeFi) lending protocols.The EBA recommends that the European Commission conduct a cost-benefit analysis for legislative amendments, considering the inclusion of intermediary crypto lending in the MiCA regulatory service list, and potentially adding specific compliance requirements and supervisory activities. The agency also suggested that corresponding requirements should be set for crypto companies providing customers access to DeFi lending protocols.Potential measures listed by the EBA include user suitability testing, leverage limits, and additional information disclosure requirements. The regulatory body also proposed that access to lending involving assets that require MiCA authorization, such as reference tokens or electronic money tokens, may be restricted, and a certification system should be introduced for DeFi lending protocols. The EBA noted that crypto lending is continuously growing within the EU, with previous studies showing lending activities in at least 16 member states; easier access to DeFi through crypto companies and artificial intelligence tools is increasingly blurring the lines between centralized and decentralized finance. The above recommendations are part of the EBA's overall opinion on the European Commission's review of MiCA, which also covers stablecoin rules, crypto asset classification, and reporting requirements.

The founder and CEO of the decentralized lending protocol Aave, Stani Kulechov, responded to various statements regarding Aave V4. He stated that the Hub and Spoke of Aave V4 are by default isolated according to risk characteristics, allowing risk-adjusted markets to share liquidity within set limits through the Hub to support new use cases while avoiding unnecessary fragmentation of liquidity. He believes that completely isolating liquidity often splits funds, reduces utilization, and increases user costs, which becomes more apparent after the incentives used to guide liquidity end.Stani mentioned that in V4, Spoke represents the lending market, and the Hub can share liquidity between these markets, allowing isolated risk characteristics to utilize the capital pool, thereby improving utilization and capital efficiency. Unlike typical curation vaults that start with zero liquidity and require funds or incentives to guide them, V4 Spoke can rely on the entire Hub balance sheet from the first day of launch. He also stated that the V4 architecture is simpler and remains flexible, with the overall codebase significantly smaller than Aave V3.According to him, Aave V4 has secured $1.2 billion in deposits and is deployed across multiple networks, including Ethereum, Avalanche, and Arc. V4 has supported third-party curators like EtherFi, allowing curators to build and manage complete market structures and participate in the economic distribution of a broader lending market, rather than just charging fees for managing deposit scales.

Cryptocurrency lending institution Arch Lending plans to expand its loan business using tokenized stocks as collateral. Arch co-founder and Chief Revenue Officer Himanshu Sahay stated in Cointelegraph's Chain Reaction podcast that the institution plans to enter this market "soon" and noted the demand for credit against tokenized stocks. Sahay mentioned that tokenized stocks have grown rapidly over the past year, but loans against such assets remain limited. He anticipates that more lending institutions will enter this market in the future, naming organizations like Superstate, Robinhood, and Securitize that issue tokenized stocks.Arch has expanded from cryptocurrency to tokenized real-world assets, recently launching loan products backed by Paxos Gold and Tether Gold. However, cryptocurrency still accounts for the vast majority of Arch's existing loan portfolio, with Bitcoin making up over 80%. Sahay also indicated that the institution has recently seen increased interest in using XRP as collateral, particularly from U.S. borrowers.Before Arch, tokenized stocks had already begun to enter the lending market. In February of this year, Ondo Finance launched a DeFi lending market for its two tokenized ETFs through integration with the lending protocol Morpho; in July, Kraken included 10 types of xStocks in its futures and margin collateral scope; in August, Coinbase's B20 stock went live on Base.

According to CoinDesk, the European Central Bank (ECB) and the central banks of EU member states wish to prohibit crypto platforms from providing indirect yields on stablecoins through lending, staking, and other products. The European System of Central Banks (ESCB) stated in response to the European Commission's consultation on the review of the Markets in Crypto-Assets Regulation (MiCA) that electronic money should be used for payments rather than savings, continuing to support the prohibition of crypto asset service providers (CASP) from paying rewards for stablecoins, and that the ban should not be limited to services already regulated by MiCA but should also cover unregulated activities such as crypto lending, borrowing, and staking.Central banks believe that allowing indirect yields could blur the lines between electronic money and bank deposits, distorting the fair competitive environment of the EU financial system. The ESCB stated that maintaining and, when necessary, strengthening this ban, while covering both direct and indirect forms of rewards, should be a clear legislative priority. This position also echoes the controversy in the U.S. surrounding the Clarity Act, where eight U.S. banking groups urged senators to tighten the bill's restrictions on stablecoin rewards, which ultimately failed in a procedural vote of 49 to 50.In addition, central banks also proposed to eliminate the MiCA requirement for stablecoin issuers to hold part of their reserves in the form of bank deposits, replacing it with liquidity rules based on the liquidity of reserve assets. Currently, stablecoin issuers must keep at least 30% of their reserves in credit institutions, and this percentage rises to 60% for those classified as significant stablecoins. The ESCB suggested that significant stablecoins must allocate at least 40% of their reserves to assets maturing within one day and 60% to assets maturing within five working days, while the corresponding thresholds for non-significant stablecoins are 20% and 30%.

According to The Block, Coinbase announced the launch of fixed-rate Bitcoin collateralized loans through Morpho Midnight, allowing users to borrow USDC and determine the interest rate and repayment date at the time of borrowing. This new option is alongside Coinbase's existing floating-rate loans (based on Morpho Blue), which have outstanding loans exceeding $1.4 billion, corresponding to collateral of approximately $3 billion.Morpho launched Midnight on Base in July, introducing fixed rates and clear loan terms for on-chain lending. A Morpho spokesperson stated that Coinbase is the first mainstream consumer platform to offer Midnight loans on a large scale; since Midnight's launch, deposits have reached approximately $30 million. The outstanding loans for Morpho Blue across all integrations amount to $5.2 billion, with deposits reaching $16 billion.A Coinbase spokesperson did not disclose specific interest rates, stating that rates are determined by the supply and demand of both parties on the on-chain order book. Currently, Coinbase offers loans that mature at the end of the month or the end of the following month, and borrowers must repay before the due date; otherwise, lenders have the right to liquidate their collateral. Jacob Frantz, Coinbase's head of revenue and investment products, stated that Coinbase Borrow allows users to obtain liquidity without selling assets, and fixed-rate borrowing gives users greater choice in credit management. Morpho indicated that Midnight could also be used in the future to build structured credit products and loans collateralized by tokenized real-world assets, with more integrations in progress.

Circle announced that the Digital Asset Backed Borrowing and Lending (DABB) feature has been launched on the Arc and Ethereum networks, available to eligible Circle Mint institutional clients.Clients can deposit Bitcoin, mint Circle Wrapped Bitcoin (cirBTC), and supply cirBTC as collateral to third-party lending markets in a single process using a self-custody wallet. The USDC borrowed will be directly settled into the Circle Mint account balance, without the need to sell the pledged Bitcoin; collateral can be released after repaying the USDC.

According to The Defiant, the decentralized lending protocol Morpho announced that the lending market for Coinbase's tokenized stocks has launched on Base. Holders can use five types of stock tokens as collateral to borrow USDC at floating or fixed rates. Since August, Coinbase has been issuing these stock tokens to users outside the United States, allowing users to store them in self-custody wallets, enabling collateralized lending to obtain dollar liquidity without selling their positions.Data shows that borrowers have pledged stock tokens worth $104,400, borrowing $54,700, with a total supply of approximately $60,300 across five markets. All five markets are curated by Steakhouse Financial, with its two Steakhouse High Yield USDC vaults providing 98.9% of the funding in the largest market. The markets cover five tokens: Apple, Alphabet, Nvidia, Meta, and SpaceX, with the liquidation loan-to-value ratio (LLTV) for the Apple, Nvidia, Meta, and SpaceX markets at 62.5%, and 77% for the Alphabet market.Currently, all borrowing occurs in the floating rate market, and there are no outstanding positions in the fixed rate layer Midnight's 95 markets. The utilization rates for the Apple, Alphabet, and Nvidia markets reach 90%, with borrowing rates at 5.62%; the Meta market has a utilization rate of 97%, with borrowing rates rising to 17.52%. Morpho's total deposits on Base amount to $4.03 billion, with total chain deposits reaching $10.42 billion.

According to the official announcement from Hyperliquid, the manual lending feature has been launched, allowing users to collateralize HYPE or BTC to borrow USDC and USDT. The loan-to-value ratio for HYPE is 65%, and for BTC, it is 50%, with corresponding liquidation thresholds of 82.5% and 75%.Collateralized HYPE and BTC do not accrue interest, while deposited USDC and USDT can earn interest but do not count towards the borrowing limit; the interest rate varies with the utilization rate of funds and is calculated hourly, with separate account and global limits. This feature is available for manual and unified accounts, while the combined margin accounts use automatic lending. The official statement mentions that both share the HyperCore underlying infrastructure, with a total of $269 million in borrowed assets on the same day.

Bitget launches the 28th "Staking and Lending Carnival," with participation from September 18 to September 30. During the event, all users can enjoy interest rate discounts on USDT staking and lending, with discounts of up to 20%.In addition, VIP users whose net new borrowing amount of USDT reaches the specified threshold can receive tiered rewards, including Bluetooth keyboards, BGB commemorative coins, and luxury camping gift packs. No registration is required for the event, as the system will automatically detect participation eligibility. Specific details are subject to the display on the Bitget page.

Aave plans to launch a real-world asset (RWA) lending center on Avalanche, allowing institutions to borrow stablecoins using tokenized financial assets as collateral without having to sell their existing holdings. Tether's USAT will serve as the primary source of dollar liquidity.Since the launch of Aave V4 on Avalanche two months ago, the deposit scale has exceeded 20 million dollars.

Avalanche announced on the X platform that Aave will launch a dedicated RWA lending market on Avalanche. This RWA Hub will allow institutions to borrow stablecoins using tokenized financial assets as collateral, without having to sell their underlying positions.Tether's USAT will serve as the core of this market, providing the primary source of dollar liquidity and becoming one of its first major institutional use cases. Aave V4 has been live on Avalanche for just two months and has already attracted over $20 million in deposits. The RWA Hub expands this infrastructure to the tokenized financial market, enabling assets to be financed, collateralized, and utilized on-chain.

According to CoinDesk, digital asset financial services company Two Prime has launched a Bitcoin lending vault on Pareto, targeting an annual yield of 1.5% to 2% for institutional lending, with a minimum deposit amount of $250,000 equivalent in WBTC.Two Prime has committed approximately $10 million as first-loss capital. Ice Digital Trust and Copper provide custody services, and the BitGo Earn platform plans to participate in distribution.

The Solana lending protocol Kamino announced the appointment of Michael Weisz (@WeiszM) as the new CEO.Kamino stated that Weisz has over twenty years of experience in fintech and private markets, and will lead the company into the next phase of institutional growth while expanding into the U.S. market.

According to official news, Spark will shut down its lending protocol SparkLend on Gnosis Chain on September 14. After the service termination, all outstanding loans may face liquidation, and users are advised to repay their debts and withdraw collateral before the deadline.

According to on-chain analyst Yu Jin's monitoring, a whale holding 149,800 ETH worth $377 million through borrowing leverage sold 6,000 ETH four hours ago, exchanging it for 14.97 million USDe to repay a loan on Aave, with a selling price of $2,496.Currently, the whale holds 143,800 ETH worth $362 million and has a debt of $181 million on the lending platform, employing an overall leverage of 2 times.