Coinbase launches credit card secured by stablecoins

Fintech firm Cardless has partnered with cryptocurrency exchange Coinbase to develop a secured credit card for stablecoin holders, CoinDesk reported. The card is designed for individuals who may have difficulty obtaining a traditional unsecured card. Applicants can qualify by holding cryptocurrency on the exchange, with a portion of their stablecoin holdings locked as collateral against their debt. Cardholders will pay a one-time issuance fee of $49.99 and will continue to earn interest on their locked USDC collateral.