Bitcoin LendingMARKET FIND

Coinbase — Onchain Bitcoin-Backed USDC Loans

Coinbase enables eligible customers to borrow USDC against bitcoin through the Morpho protocol on Base. The loan is open-ended and uses tokenized bitcoin collateral within an onchain smart contract.

website

https://www.coinbase.com

focus

Onchain USDC loans against bitcoin

serves

Eligible retail crypto customers

geography

US and United Kingdom

Max Loan USD

5000000

Term Range

open-ended

Rates Public

True

Jurisdictions

US, subject to eligibility, United Kingdom, subject to eligibility

Benefits

no credit check, stablecoin accepted, public company, cross border

Source

https://www.coinbase.com/borrow

Coinbase's borrowing product connects eligible customers to USDC liquidity supplied through Morpho markets on the Base network. A customer's bitcoin is converted to Coinbase Wrapped BTC, or cbBTC, and deposited as collateral in the applicable smart contract; the borrower then receives USDC and can convert or transfer the proceeds through Coinbase. The current US page advertises borrowing capacity up to $5 million, while pricing is variable and visible before a transaction is confirmed. The facility has no fixed maturity date, but the borrower must monitor the market-defined loan-to-value and liquidation threshold. Coinbase expanded a related borrowing experience to eligible United Kingdom customers in April 2026, with locally supported assets and terms that may differ from the US product. This is protocol-based lending rather than a conventional installment loan, and smart-contract, tokenization, oracle, and liquidation risks apply. Coinbase is a US public company, but eligibility, collateral support, limits, and regulatory treatment vary by location and account.