Coinbase Introduces Borrow for Crypto-Backed USDC Loans

Coinbase has introduced a new feature called Borrow on its Base platform. This allows neobanks and brokerages to offer crypto-backed USDC loans to their customers.

The feature is available through Coinbase's Developer Platform, which provides tools for developers to integrate into their own products. With Borrow, users can browse available products, open collateralized positions, and manage them over time.

The first product to be integrated with Borrow is Morpho Blue on Base, a Web3 NFT collaboration between Oak Currency and 0xCity3.