Coinbase launches crypto-backed loans in the UK.
Coinbase will be offering consumers loans paid out in USDC stablecoin on their platform, with Bitcoin and Ethereum qualifying as collateral assets.
This will be primarily via the Morpho protocol integration on the Base network, with fiat conversion to GBP available inside the app.
The specific LTV Lloan-to-Value) ratio offered by Coinbase and Morpho and any other stablecoin borrowing rates, rewards, as well as repayment timeframes are subject to individual accounts types, market behaviour, as well as other specified criteria.
More people in the UK and other countries are making use of stablecoin borrowing solutions as time goes on to cover large purchases and assist with everyday expenses.
In the last few months, Coinbase custom stablecoin issuance was also launched in the U.S. for institutions.
