Coinbase Rolls Out Bitcoin-Backed USDC Loans Through Morpho Midnight

Coinbase is expanding its financial services by launching a new loan product through Morpho's Midnight. The feature allows users to borrow USDC, a stablecoin pegged to the US dollar, against Bitcoin (BTC) collateral.

The fixed-rate, fixed-term loan will enable users to predict interest rates and repayment schedules in advance. This is designed to provide greater transparency and control over on-chain loans.

The new product is expected to cater to a growing demand for decentralized finance (DeFi) services. By offering a fixed loan term, Coinbase aims to reduce the complexity and uncertainty associated with traditional lending products.