Coinbase users can now borrow USDC against bitcoin at a fixed rate
Summary
Coinbase has introduced fixed-rate, fixed-term USDC loans backed by bitcoin, giving borrowers certainty over interest costs and repayment dates alongside its existing variable-rate loans. The service uses Morpho Midnight and settles on Coinbase’s Base network, bringing onchain fixed-rate borrowing into a mainstream consumer app. Coinbase’s existing Morpho Blue loans have more than $1.4 billion outstanding, backed by nearly $3 billion in collateral. The broader bitcoin-backed credit market is estimated at about $16 billion.
