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Coinbase expands Morpho loans that let users borrow against bitcoin

The lending product lets borrowers lock in a rate and a repayment date when borrowing USDC against bitcoin.

Reported · Written up by our desk · DeFi

Coinbase is expanding its crypto lending offering with a new product that allows users to borrow USDC against bitcoin at a fixed rate.

According to Decrypt, the feature lets customers lock in both their interest rate and their repayment date, aiming to avoid the variable-rate structure common in on-chain lending.

The rollout also marks what Decrypt describes as the first enterprise-scale deployment of Morpho Midnight, a technology used to support fixed-rate terms for these loans.

Coinbase’s move reflects a broader shift away from on-chain lending norms that typically set rates dynamically, rather than letting borrowers preselect the terms.

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