Coinbase launched fixed-rate Bitcoin collateral and term USDC loans

Coinbase launches Bitcoin-collateralized fixed-rate, fixed-term USDC loans through Morpho Midnight, allowing borrowers to obtain USDC without selling their Bitcoin. The interest rate and repayment date for the product are determined at the start of the loan; if borrowers do not repay the USDC and interest before the due date, the collateralized Bitcoin may be reclaimed.

The existing active or outstanding loan volume of Bitcoin-collateralized loans with floating rates supported by Morpho at Coinbase has exceeded 1.4 billion dollars, with collateral valued at approximately 3 billion dollars.