Coinbase Launches ETH-Backed Loans, Offering Up to $1 Million in USDC

Coinbase has unveiled a new lending feature allowing customers to borrow up to $1 million in USDC using Ether as collateral, enabled through the Morpho protocol on Base network. This innovative service provides tax-efficient liquidity without requiring users to sell their ETH holdings, which aligns with a trend towards secure and decentralized financial solutions within the burgeoning blockchain lending sector. The initiative represents significant progress for crypto holders seeking enhanced access to liquidity, particularly in the DeFi landscape.