Coinbase Launches Fixed-Rate Bitcoin-Collateralized USDC Loans, with Over $1.4 Billion in Active Loans

Odaily News: Coinbase has launched fixed-rate loans powered by the decentralized lending protocol Morpho, allowing users to borrow USDC against bitcoin and lock in the interest rate and repayment date at the start of the loan.

This product marks the first enterprise-grade deployment of Morpho Midnight, with Coinbase handling the application experience, Morpho providing the credit infrastructure, and the Base network handling settlement.

Coinbase's existing Morpho floating-rate loans have surpassed $1.4 billion in active volume, corresponding to approximately $3 billion in collateral. The business launched bitcoin-collateralized lending in early 2025 and later expanded collateral to assets such as XRP and Dogecoin. (Decrypt)