TLDR Tech / Crypto
Coinbase Expands USDC Loans to UK Users
Coinbase expanded its crypto-backed USDC lending service to UK users, enabling borrowing of up to $5M against Bitcoin collateral and up to $1M against ETH or cbETH, with loans routed through Morpho on Base. Rates are variable and recalculated each block, with no fixed repayment schedule, though LTV breaches trigger liquidation. The move follows Coinbase's February 2025 FCA registration and complements recent UK product additions including DEX trading and savings accounts, with the company having originated $2.17B in USDC loans as of April 14.
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