Apollo partners with Coinbase to ‘unlock’ stablecoin lending business

Coinbase's asset management arm announced a partnership with Apollo Global Management to expand its stablecoin credit services portfolio. The collaboration will focus on strategies including over-collateralized asset lending, corporate direct lending, and tokenized credit holdings, allowing users to borrow against digital assets or gain exposure to Apollo-managed credit strategies via tokenized products. Coinbase Asset Management President Anthony Bassili noted that the 24/7 global stablecoin ecosystem presents opportunities beyond traditional private credit. Coinbase anticipates the stablecoin market could reach $3 trillion by 2030. Apollo has prior experience in digital assets, having partnered with Securitize and invested in Plume Network. The two companies aim to bring these new credit investment products to market next year. This move follows Coinbase's exploration of other digital payment initiatives, such as stablecoin payout methods with Citi.

(Source：The Block)