Coinbase Brings Fixed-Term Bitcoin Borrowing to Users Through Morpho

Coinbase has expanded its crypto lending services with fixed-rate Bitcoin-backed loans through Morpho Midnight. According to the press release, the new product lets users borrow USDC while locking in borrowing costs and repayment dates upfront. Consequently, borrowers gain a more predictable way to access liquidity without selling their Bitcoin.

The service adds a fixed-term option to Coinbase’s existing variable-rate lending products. Those loans use Morpho Blue and now exceed $1.4 billion in outstanding balances. They also have roughly $3 billion in collateral, according to Coinbase.

Fixed Rates Bring More Predictability

Morpho launched Midnight on Base in July to support fixed-rate lending. The protocol uses an onchain order book where lenders and borrowers submit offers. Therefore, market supply and demand determine the available borrowing rates.

Coinbase has n…

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