Coinbase Introduces Fixed-Rate Bitcoin Loans via Morpho Midnight

Coinbase has launched a fixed-rate Bitcoin loan service through its Morpho platform for USDC (USD Coin) holders in the United States. This move aims to provide retail traders with direct access to initial public offerings (IPOs). The company's CEO, Brian Armstrong, previously predicted that Bitcoin could reach between $300,000 and $400,000 by 2030.

The new loan service is a collaboration between Coinbase's Morpho platform and USDC. Borrowers can receive a fixed rate of interest on their Bitcoin loans, denominated in USDC. This move marks an expansion of the company's services for retail traders, who can now access IPO allocations directly through the Coinbase mobile app.

The launch comes as Coinbase targets 50+ U.S. stocks with its new perpetual futures proposal, which includes Apple and Microsoft among others. The company has also been working on improving user privacy, having launched confidential access to 16 vaults on Morpho in collaboration with Merkl's incentive engine.