Coinbase extends its on-chain lending product to Ethereum via Morpho
TL;DR
Coinbase has expanded its on-chain lending to Ethereum using the Morpho protocol, allowing qualified users to lend up to 1 million USDC without selling crypto assets. The service operates on Base chain with WETH as collateral and dynamic interest rates.
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According to Foresight News , citing The Block, Coinbase has expanded its on-chain lending product to Ethereum. Based on the Morpho protocol, the service allows qualified users to lend up to 1 million USDC without selling their crypto assets. The service operates on the Base chain, using WETH as initial collateral, and will support other collateral assets such as cbETH in the future. The borrowing limit is 75% of the collateral's market value, and 86% LTV will trigger liquidation. The interest rate is dynamically determined by the Morpho protocol. Coinbase previously launched a BTC-collateralized lending product, lending over $1.25 billion cumulatively.