Coinbase and Morpho Launch Bitcoin-Backed USDC Loans on Base
- Coinbase partners with Morpho to offer USDC loans backed by Bitcoin.
- Loans are processed via the layer-2 blockchain Base.
- Borrowers can access up to $100,000 in USDC.
- Interest rates are dynamically set by Morpho’s market mechanism.
- Morpho is the 12th-largest decentralized app, with over $3.2 billion in value locked.
The partnership between Coinbase and Morpho enables users to borrow up to $100,000 in USDC using Bitcoin as collateral, leveraging the Base blockchain for processing. Interest rates are determined by Morpho’s market-driven system, reflecting its significant growth in the DeFi space.
