Coinbase brings back Bitcoin-backed loans with Morpho’s DeFi integration
Name
Coinbase brings back Bitcoin-backed loans with Morpho’s DeFi integration
Description
Coinbase has re-entered the lending market by partnering with Morpho to offer instant USDC loans backed by Bitcoin. This integration signifies a significant development in Coinbase’s services within the decentralised finance (DeFi) space.
Publish date
12:00am, Thursday, January 16, 2025
Referenced by
Coinbase partners with Morpho to relaunch Bitcoin lending
Crypto news
News story
Users’ Bitcoin collateral is converted to Coinbase-wrapped Bitcoin (cbBTC) at a 1:1 ratio without fees and transferred to Morpho
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Collateral is liquidated if the loan balance reaches 86% of the collateral’s market value, triggering repayment and penalty fees, with remaining Bitcoin returned to borrowers
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