The Scoop DeFi should feel 'magical' for average consumers, says Coinbase product director behind new bitcoin-backed loans
Mar 21, 2025
Michael Rihani, Director of Products at Coinbase, is a key player behind the revolutionary bitcoin-backed loan product aimed at everyday consumers. He discusses how this innovative solution bridges decentralized finance and traditional banking, allowing users to unlock liquidity without selling their Bitcoin. Rihani emphasizes making DeFi feel 'magical' through user-friendly designs that attract mainstream users. He also explores the future of DeFi, highlighting the potential for fixed-rate lending and the role of decentralized identity in transforming financial interactions.
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DeFi Mullet
- Coinbase leverages both centralized and decentralized finance.
- They improve traditional finance's limitations and enhance DeFi's user experience.
Morpho Integration
- Coinbase integrates with the DeFi protocol Morpho for Bitcoin-backed loans.
- This integration eliminates the need for credit checks or social security numbers.
Real-World Use Cases
- People are using Bitcoin-backed loans for real-world needs.
- Some borrowed against Bitcoin for down payments on houses after losing homes in fires.