Coinbase Unveils New Ethereum Loan Service for US Users

Coinbase has launched a new loan service that allows eligible U.S. users to borrow up to $1 million in USDC using their Ethereum (ETH) as collateral. This offering leverages the Morpho lending protocol on Coinbase’s Base Layer-2 network, blending decentralized finance and a centralized platform for user convenience. Users can access liquidity without triggering taxable events associated with ETH sales, while automatic liquidation protection ensures security with an 86% loan-to-value ratio.