Coinbase Introduces Fixed-Rate Bitcoin Loans with Morpho Midnight
- Coinbase has launched its first fixed-rate loan product, allowing U.S. users outside New York to lock Bitcoin loan rates and repayment dates in advance.
- Morpho has $1.56 billion in outstanding Coinbase-linked loans across approximately 53,000 borrowers.
- The new product, Morpho Midnight, allows borrowing USDC against BTC with fixed rates and maturities, unlike the previous floating-rate loans.
Coinbase’s new fixed-rate loan offering aims to provide a more predictable borrowing experience by setting both the interest rate and maturity date upfront. This change makes onchain borrowing terms more recognizable for traditional borrowers while still leveraging cryptocurrency infrastructure.
With $3.60 billion in Coinbase-linked collateral and a significant number of active borrowers, this move represents a substantial shift towards fixed-income markets within the crypto space. (Source)
