Coinbase Launches Bitcoin-Backed USDC Loan Program in the US
- Coinbase introduces a Bitcoin-backed loan program for US clients, excluding New York.
- Users can borrow USDC against Bitcoin without selling their BTC holdings.
- The program is powered by MorphoLabs and built on Base.
- Borrowed USDC can be used to earn over 4% rewards, sent globally for free, or converted to USD at a 1:1 ratio without fees.
- This initiative aims to help customers manage finances onchain while deferring tax implications from selling Bitcoin.
Coinbase’s new program allows users to leverage their Bitcoin holdings by borrowing USDC, offering financial flexibility without incurring immediate tax events. The service is available across most of the United States and promises more collateral options in the future.
