Coinbase introduces fixed-rate, fixed-term loans in which users borrow USDC against bitcoin collateral. The company says borrowers can set their repayment date and know the interest costs upfront, contrasting with its existing floating-rate borrowing product.
The new loans run through Morpho Midnight, a decentralized lending protocol deployed on Coinbase’s Base network. Coinbase’s earlier bitcoin-backed loans, operating through Morpho Blue, continue to use interest rates that can change with market conditions. Both outlets describe the change as adding an alternative structure for borrowers who prefer predictable terms.
Coverage focuses on the product’s mechanics—fixed interest and fixed repayment timing—along with the underlying platform shift to Morpho Midnight for the new offering. Neither source indicates a change to collateral requirements or eligibility beyond the availability of the fixed-rate option.
