- Coinbase has announced the upcoming launch of a loan product that will feature fixed rates and terms, allowing users to leverage Bitcoin (BTC) as collateral to borrow USDC.
- This lending solution will be facilitated through Morpho‘s platform, known as Midnight.
- According to Coinbase, these fixed loan conditions aim to assist users in forecasting interest rates and repayment schedules for their on-chain loans ahead of time.
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Coinbase is set to introduce a new lending product that offers fixed-term, fixed-rate loans, enabling users to use Bitcoin as collateral to borrow USDC.
As reported by Cointelegraph on September 23, this loan service will be provided through Midnight, a decentralized finance offering from Morpho.
Users will be able to pledge Bitcoin as collateral and borrow USDC at established rates and fixed durations.
By implementing these fixed loan terms, Coinbase aims to allow users to anticipate their interest costs and repayment timelines for these on-chain loans in advance.
