# Bitcoin Borrowing on Base Hits $1.6 Billion

> Coinbase customers drive $1.6 billion in Bitcoin-backed loans on Base.
- Title: Bitcoin Borrowing on Base Hits $1.6 Billion · TokenPost
- Summary: 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.
- Keywords: base, coinbase, btc, borrowing, usdc, morpho, cbtbc, crypto, finance, Bitcoin, Hits, Billion
- Source: TokenPost — https://tokenpost.com/news/business/35043
- Published: 2026-10-19T21:26:45+00:00
- Read time: 1 min
- Topics: base, coinbase, btc, borrowing, usdc, morpho, cbtbc, crypto, finance
## 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.
## Key takeaway

Coinbase customers account for most of $1.6 billion borrowed against Bitcoin on Base.