Crypto Lending Protocol MakerDAO Approves Transferring a Maximum of $500M of Circle’s USDC Stablecoin to Coinbase Custody

Maker, one of the largest decentralized lending protocols, is led by a decentralized autonomous organization (DAO), in which holders of its native maker (MKR) token vote on proposals. The protocol also issues the $5 billion DAI stablecoin, backed by some $7 billion worth of assets in Maker’s reserves.