Coinbase is expanding its Morpho-based lending offering with a product that allows users to borrow USDC against Bitcoin at a fixed rate. Borrowers can set both the interest rate and repayment date when taking out the loan, providing defined terms rather than exposure to changing borrowing costs. The launch represents the first enterprise-scale deployment of Morpho Midnight, according to information reported by Decrypt. It also marks a move away from the variable-rate structure that has traditionally characterized on-chain lending. The product links BTC-backed borrowing with USDC liquidity while giving users greater certainty over the cost and timing of repayment. The announcement is relevant to Bitcoin and USDC markets, as well as the Morpho and Midnight ecosystems.
