Coinbase Launches Borrow Feature for Crypto-Backed USDC Loans

Coinbase has launched a new feature called Borrow on its developer platform, allowing developers to integrate crypto-backed USDC loans into their applications. The feature operates through Morpho Blue on Base Mainnet and supports pairs such as cbBTC/USDC, cbXRP/USDC, SOL/USDC, and cbETH/USDC.

The Borrow feature enables users to open collateralized borrow positions by posting crypto assets and receiving USDC loans. Developers can use CDP APIs to manage the full lifecycle of a borrow position, including browsing available collateral and loan pairs, posting collateral and borrowing in a single atomic transaction, and tracking debt levels and position health.

The feature includes a built-in fee mechanism for developers, who can set an origination fee and designate a recipient address. The fee is charged in the loan token when a user opens a position or borrows additional funds.