Jupiter Adds Anchorage-Backed USDGO Stablecoin to Its Solana Lending Platform
(4 hours ago) · 1 source · Summarized by CryptoBipto
Jupiter, a decentralized finance platform on Solana, has added USDGO, a stablecoin backed by Anchorage Digital, to its lending platform. The lending platform reportedly manages around $1 billion in assets. The integration allows users to lend and borrow using USDGO on the Solana blockchain.
WHY IT MATTERS
A lending platform in crypto works similarly to a bank: people deposit their crypto assets to earn interest, and others can borrow those assets by putting up collateral (a security deposit).
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SOURCES
- coindesk.com
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