Coinbase Launches Fixed-Rate, Fixed-Term USDC Loans Backed by Bitcoin

Odaily Planet Daily News: Bitcoin News posted on the X platform that Coinbase, through Morpho Midnight, has launched fixed-rate, fixed-term USDC loans backed by Bitcoin, allowing borrowers to obtain USDC without selling their Bitcoin. The interest rate and repayment date for the product are determined at the start of the loan; if borrowers fail to repay the USDC and interest by the due date, the collateralized Bitcoin may be seized. Coinbase's existing floating-rate Bitcoin-backed loans supported by Morpho have an active or outstanding loan volume exceeding $1.4 billion, with collateral valued at approximately $3 billion.