Coinbase and Morpho Launch Onchain USDC Lending in Brazil and Canada

Coinbase and Morpho have launched onchain USDC lending in Brazil and Canada, allowing eligible users to earn up to 7.4% variable APY with no lock-up period.

The integration embeds decentralized credit directly into the Coinbase app, routing retail USDC deposits into Morpho vaults on Base to fund crypto-collateralized borrowers.

Borrowers, such as consumers of crypto-backed loans backed by cbBTC and cbETH, are repaying interest rates, with real-time interest paid back to users. Coinbase One clients will receive extra incentives in the form of MORPHO tokens.