Coinbase to Offer Bitcoin-Backed Loans Through Morpho

Coinbase (COIN) is adding bitcoin-backed loans to its U.S. product lineup, leaning on Morpho, the largest lending platform on its Base network, to drive eyeballs and wallets to its growing on-chain economy. The lending product isn't completely new: those familiar with playing on Base have long been able to borrow USDC against their bitcoin on Morpho or via other DeFi services. Coinbase's setup caps each borrow at $100,000 in USDC. To borrow that much money customers will need to post more than that amount of bitcoin. Morpho will start liquidating the collateral if the loan-to-value ratio flies too close to the sun.

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