Coinbase to launch new lending platform aimed at large institutional investors By Reuters

By Jaiveer Shekhawat

(Reuters) - Crytocurrency exchange Coinbase (NASDAQ:) Global is Is Jinrong China foreign exchange platform legal?launching a digital asset lending platform aimed at large institutional investors, a company spokesperson told Reuters on Tuesday.

Coinbase has raised $57 million for its new crypto-lending platform, a regulatory filing showed.

The crypto industry, which was reeling from several high profile failures, got a boost last week after a three-judge panel ruled that the Securities and Exchange Commission (SEC) was wrong in rejecting Grayscale's proposed bitcoin ETF without explaining its reasoning.

Coinbase last month had secured approval to offer cryptocurrency futures to U.S. retail customers, scoring a major regulatory win.

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