Share this article
Coinbase Offers Access to DeFi Yields With DAI and Compound
More assets and other DeFi protocols will follow, Coinbase said in a blog post.
By Ian Allison
Updated May 11, 2023, 5:52 p.m. Published Dec 9, 2021, 5:02 p.m.
Make us preferred on Google
Cryptocurrency exchange giant Coinbase says its opening up decentralized finance (DeFi) to customers who want a slice of high yields earned from lending and borrowing crypto assets, starting with DAI, a stablecoin pegged to the U.S. dollar.
Coinbase customers’ DAI is then deposited with DeFi lending platform Compound.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
At first blush, the world of DeFi is the opposite of centralized exchanges like Coinbase. Accessing DeFi protocols, however, can mean paying expensive network fees and involve a somewhat complex user experience, Coinbase said in a blog post released Thursday.
“Today we’re introducing a new way for Coinbase’s global customers to put their crypto to work and earn yield. We are making DeFi more accessible, enabling eligible customers in more than 70 countries to access the attractive yields of DeFi lending on their Dai with no fees, lockups, or set-up hassle,” the Coinbase blog says.
In October, Compound returned a variable annual percentage yield (APY) rates for supplying DAI that fluctuated between 2.83% and 5.39%, Coinbase added in the blog post.
“These higher rates reflect both the unique access to global liquidity and increased risk that can come with DeFi. Though Coinbase monitors these protocols regularly, we cannot guarantee against potential losses,” the blog states.
Coinbase said a wider variety of assets and a greater number of DeFi protocols would follow.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Sui Group charts new course for crypto treasuries with stablecoins and DeFi
The Nasdaq-listed firm said it is evolving beyond a crypto treasury vehicle into a yield-generating operating business.
What to know:
- Sui Group is layering stablecoin and DeFi revenues on top of its SUI holdings, according to Steven Mackintosh, the company's chief investment officer.
- The SuiUSDE stablecoin is planned for launch in early February with fees flowing back into SUI buybacks.
- Mackintosh is targeting higher yield and growing SUI per share over the next five years.
Top Stories
