Coinbase Introduces Bitcoin-Backed Onchain Loans via Morpho
- Coinbase now offers Bitcoin-backed loans up to $100,000 in USDC.
- The service is powered by the DeFi protocol Morpho on the Base network.
- Loans require a minimum collateral ratio of 133% and are over-collateralized.
- If the loan balance reaches 86% of collateral value, liquidation occurs.
- Interest rates are variable and determined by market conditions on Base.
Coinbase has launched Bitcoin-backed onchain loans through Morpho, allowing users to borrow up to $100,000 in USDC. These loans require a minimum collateral ratio of 133%, with liquidation happening if the loan balance hits 86% of the collateral’s market value. Interest rates vary based on market conditions.
