Coinbase Introduces ETH-Backed Loans for US Users: Expanding DeFi Lending

Coinbase has launched Ether-backed loans for US users, allowing customers to borrow USDC against their Ethereum holdings without selling. This new offering leverages Morpho’s decentralized finance (DeFi) lending protocol and is available in most states except New York. The service offers variable rates and liquidation risk tied to market conditions. Users can borrow up to $1 million in USDC stablecoin. Coinbase plans to expand this program to other assets like loans backed by its staked Ether (cbETH).