Morpho Expands Lending Markets to Coinbase Tokenized Stocks

Morpho has expanded its lending markets to include five Coinbase tokenized stocks on Base. This move allows users to pledge stock tokens as collateral and borrow USDC against them, providing a way for investors to access dollars without selling their positions.

The supported stocks are Apple (AAPLc), Alphabet (GOOGLc), Nvidia (NVDAc), Meta Platforms (METAc), and SpaceX (SPCXc). These stocks have variable rate markets on Morpho, but fixed rate alternatives are available through the Midnight lending system.

According to data from Morpho, users have pledged $104,401 in stock tokens as collateral and borrowed $54,652 in USDC against them. The borrowing activity picked up pace after the deployment of the five markets on September 7th, with outstanding loans reaching $42,105 within two hours on September 16th.

The expansion of Morpho's lending markets follows Coinbase's introduction of its tokenized equity products on Base in August and September. These products are backed by underlying shares held through a segregated custody arrangement and are designed to remain in self-custodial wallets while interacting with supported applications on Base.