Coinbase Offers Fixed-Rate Bitcoin-Backed Loans Through Morpho's Midnight

Coinbase has launched a new service offering fixed-rate USDC loans backed by Bitcoin (BTC) collateral, integrated with Morpho's fixed-rate product Midnight.

The new loan product allows users to lock in both the interest rate and repayment date at the time of origination, providing more control over borrowing costs. This move broadens Coinbase's credit-management options alongside its existing floating-rate loan business, which has about $3 billion in collateral and $1.4 billion in outstanding balances.

Coinbase says this new product will allow users to access liquidity without selling their assets, and that fixed-rate loans expand the range of choices available for managing credit.