Backpack: Loan feature launched with points rewards.

Odaily Planet Daily reports that Backpack has officially launched its lending feature on its X platform, supporting Backpack Points rewards. Users can use assets such as BTC, ETH, SOL, XRP, and USDC as collateral to lend or borrow without selling their assets. The lending feature allows users to deposit crypto assets to earn floating returns; the borrowing feature allows users to borrow assets such as USDC using crypto assets as collateral. Backpack warns of liquidation risks associated with borrowing and currently only offers lending services, excluding spot and perpetual contracts. Furthermore, Japanese residents can now participate in the previously unavailable Backpack Points program.