Coinbase is in the process of creating a new institutional lending service, according to regulatory filings and statements from the company.
A Coinbase spokesperson told CryptoSlate on Sept. 5:
“Coinbase is launching a digital asset lending program for its institutional Prime clients. 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. “
That exemption explicitly allows companies to sell securities within certain limits without registering with the U.S. Securities and Exchange Commission (SEC).
A filing submitted to the SEC on Sept. 1 suggests that Coinbase has applied for exemptions for the service through an existing subsidiary company, Coinbase Credit, Inc. The filing also names Coinbase CFO Alesia Haas as a related individual.
That same filing shows that Coinbase has sold $57 million worth of debt in advance of the service’s introduction and that indefinite future sale
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