Coinbase CEO Brian Armstrong. Photo credit: Steve Jennings/Getty Images for TechCrunch, under Creative Commons license

Crypto company Coinbase has said that it’ll begin offering cash loans to US-based customers as part of a push into other areas outside its main business of facilitating cryptocurrency trades. Basically, customers will be able to borrow cash as is done usually on lending platforms but this time backed by their Coinbase cryptocurrency portfolio. Customers will get the option to borrow amounts equating to up to 30% of their Coinbase crypto holdings and will be able to secure loans within 2-3 days of applying, according to Coinbase.

The new service is set to begin by this fall.