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Thursday Nov 20 2025 18:50
2 min
Coinbase has officially launched a new service in the United States, granting users the ability to access USDC loans collateralized by their Ethereum (ETH) holdings, without needing to liquidate their crypto assets. This innovative feature is powered by the decentralized finance (DeFi) protocol Morpho and operates on the Base network.
Key Highlights:
Collaboration with Morpho:
This new offering is a direct result of a partnership with Morpho, a prominent DeFi lending protocol. Coinbase integrated Morpho into its application in September, providing users with the opportunity to earn yields of up to 10.8% on their USDC holdings.
On-Chain Lending Market Performance:
According to data from Dune Analytics, Coinbase's on-chain lending markets have facilitated over $1.25 billion in loan originations, secured by approximately $1.37 billion in deposited collateral. The outstanding loan balance currently stands at around $810 million, with over 13,500 wallets holding active borrowing positions.
Coinbase's Accelerated Expansion:
Coinbase has been aggressively pursuing expansion, evidenced by the launch of new products, strategic partnerships, and acquisitions.
Acquisition of Echo:
In October, Coinbase acquired Echo for $375 million. This platform, developed by crypto investor Jordan Fish, is designed to enable communities to finance early-stage projects and startups.
Expanding Service Offerings:
That same month, the exchange announced crypto staking for New York residents and partnered with Citigroup to streamline how clients transfer funds between crypto and traditional currencies.
New Platform for Initial Coin Offerings:
On November 10, Coinbase unveiled a new platform for Initial Coin Offerings (ICOs), re-establishing regulated access to initial token sales for US retail investors for the first time since 2018. The exchange plans to list approximately one sale per month, beginning with Monad's token sale on Monday.
Prediction Market Exploration:
Tech researcher Jane Manchun Wong noted on X that Coinbase is actively developing a prediction market website, seemingly supported by Kalshi's infrastructure.
Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.
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