From TokenPost · · 40s
Bitcoin Borrowing on Base Hits $1.6 Billion
Coinbase customers drive $1.6 billion in Bitcoin-backed loans on Base.
In brief
Coinbase customers drive $1.6 billion in Bitcoin-backed loans on Base. Coinbase customers account for most of $1.6 billion borrowed against Bitcoin on Base. Originally reported by TokenPost.
Coinbase Customers Lead $1.6 Billion Borrowing
Coinbase customers account for most of the $1.6 billion borrowed against Bitcoin on Base.
How Borrowing Works on Base
For Coinbase’s variable-rate product, BTC collateral is converted into Coinbase Wrapped Bitcoin for use in Morpho markets, and borrowers receive USD Coin.
New Borrowing Option Launched
Coinbase launched a fixed-rate, fixed-term crypto-backed borrowing option through Morpho Midnight on Base on Sept. 22, 2026.
The big picture
Coinbase customers account for most of $1.6 billion borrowed against Bitcoin on Base.
