Crypto
Morpho Expands Lending Markets for Coinbase Tokenized Stocks
Morpho has launched lending markets for five Coinbase tokenized stocks on Base. This move allows users to pledge their stock tokens as collateral and borrow USDC against them.
The supported stocks include Apple (AAPLc), Alphabet (GOOGLc), Nvidia (NVDAc), Meta Platforms (METAc), and SpaceX (SPCXc). Since the launch, $104,401 in stock tokens has been pledged as collateral, with borrowers taking out $54,652 in USDC.
The borrowing activity saw a significant spike on September 16, climbing from $503 to $42,105 in just two hours. This number has since increased to $54,652 by Friday morning.