Coinbase Launches Ethereum-Backed Loans up to $1 Million

Coinbase has introduced a new lending service that enables users to borrow USDC (a stablecoin) backed by Ethereum (ETH). This offering leverages the Morpho lending protocol and operates through the Coinbase Base network, providing a user-friendly interface while utilizing decentralized finance (DeFi) infrastructure. This move signifies a deeper entry into on-chain credit markets for Coinbase, expanding its role in the financial landscape of crypto assets.