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Coinbase Rolls Out Fixed-Rate Bitcoin-Backed Loans via Morpho Midnight

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Coinbase has launched fixed-rate Bitcoin-backed loans via Morpho Midnight, allowing US users to borrow USDC at set interest rates and repayment dates.

The product is available nationwide except for New York and uses Morpho Midnight's lending infrastructure, which provides a fixed rate unlike the variable rate of its previous BTC-backed USDC loan product.

Morpho Midnight's whitepaper was released in May 2026, with the public launch following in July. The new product has already accumulated around $30 million in total deposits.

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