Lending in stablecoins

Your loan is advanced and repaid in the stablecoin you select, not in your home currency. For a US lender using USDC, the two are the same and no exchange rate is involved. If they differ, what your loan is worth in your home currency will rise or fall with the exchange rate between them, and each conversion to or from your bank account occurs at the rate prevailing at the time, so the amount returned to your bank may be more or less than the amount you converted.

The app shows this warning at the point you confirm a Lending Request, so it is in front of you when it matters. The Risk Warning page covers stablecoin risks, including the possibility that a stablecoin ceases to track its currency.