Coinbase Now Lets UK Users Borrow Against Their Bitcoin And Ethereum

Coinbase launched crypto-backed USDC lending for U.K. users on Monday.

Bitcoin holders can borrow up to $5 million in USDC, with Ethereum-backed loans capped at $1 million.

The service uses Morpho, an open-source lending protocol on Ethereum layer-2 network, Base.

Crypto exchange Coinbase hasexpanded its lending service, now allowing U.K. customers to borrow USDC stablecoins using theirBitcoinorEthereumholdings as collateral.

The service operates through Morpho, an open-source lending protocol onBase—the Coinbase-backed Ethereum layer-2 network—that powers Coinbase's crypto-backed loans.

U.K. users can pledge cryptocurrency as collateral to access USDC liquidity without liquidating their digital assets.

Borrowing limits vary by collateral type.

Bitcoin holders can access up to $5 million in USDC, while Ethereum-backed loans top out at $1 million, depending on the amount pledged.

Coinbase first launched the crypto-backed loan service in the United States in January 2025, and said it has facilitated $2.17 billion USDC in loan originations as of April 14.

The lending product adds to Coinbase's growing U.K. service portfolio.

Source: ZeroHedge News