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Coinbase Launches Bitcoin-Backed Loans via DeFi Partner Morpho on Base Network for U.S. Users
Jan 16, 2025, 02:43 PM
Coinbase has launched Bitcoin-backed loans for U.S. customers—excluding those in New York—marking a significant move into decentralized finance (DeFi). Partnering with DeFi lender Morpho and built on its Base network, Coinbase allows users to borrow USDC against their Bitcoin holdings without selling them. The loans are conducted on-chain, with Coinbase acting as a middleman rather than the lender, and offer flexible repayment terms with access to liquidity in under a minute. This new service represents Coinbase's return to crypto-backed lending after a previous attempt in 2023 did not succeed, and there are plans to expand to additional jurisdictions and collateral assets in the future.
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