Coinbase Launches Fixed-Rate Term USDC Loans Backed by Bitcoin

Odaily reports that Bitcoin News posted on X platform that Coinbase has launched fixed-rate, fixed-term USDC loans backed by Bitcoin through Morpho Midnight, allowing borrowers to obtain USDC without selling their Bitcoin.

The interest rate and repayment date for this product are determined at the start of the loan; if the borrower fails to repay the USDC and interest by the maturity date, the collateralized Bitcoin may be liquidated. Coinbase's existing floating-rate Bitcoin-backed loans powered by Morpho have surpassed $1.4 billion in active or outstanding loan volume, with collateral value of approximately $3 billion.