Coinbase Adds Fixed-Rate Bitcoin-Backed USDC Loans

Coinbase now lets users borrow USDC against bitcoin at a fixed interest rate and repayment date set at origination. The loans run on Morpho Midnight and settle on Base, complementing Coinbase's variable-rate lending business, which holds over $1.4 billion in active loans backed by nearly $3 billion in collateral. Fixed-rate bitcoin-backed loans already exist, but Coinbase's onchain, in-app version stands out.