Coinbase Offers Fixed-Rate Loans Backed by cbBTC Through Morpho Midnight

Coinbase has added fixed-rate USDC loans backed by cbBTC to its lending platform, giving customers another option for borrowing against their Bitcoin without selling it. The service uses Morpho Midnight on Base and allows borrowers to negotiate with lenders on interest rates and repayment terms.

The new product complements Coinbase's existing variable-rate borrowing through Morpho Blue, which has outstanding loans worth over $1.4 billion and roughly $3 billion in collateral.

Coinbase is responsible for the customer experience, while Morpho handles the lending protocol and Base manages transactions.