Coinbase launches USDC loans with PAX Gold as collateral for US users

Coinbase has introduced a new borrowing feature enabling eligible users in the United States to access USDC loans backed by Paxos’s PAX Gold (PAXG) token. Rolled out in early November, this marks the first time Coinbase Borrow has accepted a collateral asset representing physical gold, rather than purely crypto-native tokens. Previously, Coinbase Borrow exclusively supported digital assets such as Bitcoin , Ether, XRP, and Solana as security for loans. With the addition of PAXG, each token of which is backed by one fine troy ounce of gold held in LBMA-accredited vaults, Coinbase has introduced a real-world asset into its lending platform. This development allows users to obtain USDC loans without liquidating their gold-backed holdings.

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