Users of the crypto exchange can now borrow USDC at locked rates with fixed maturity dates by using Bitcoin as collateral. The new fixed-rate offering is built by Morpho Midnight on the Base network, allowing borrowers to secure specific repayment dates before taking out a loan.

This borrowing product functions alongside an existing $1.4 billion variable-rate loan book managed by the company. By integrating Morpho Midnight, Coinbase provides a tool for users to obtain liquidity without selling their Bitcoin holdings, offering an alternative to the interest rate fluctuations associated with variable loans.