Coinbase Introduces Crypto-Backed Loans for UK Customers

Coinbase has expanded its crypto-backed borrowing service to the UK market, providing customers with a new way to access funds without selling their Bitcoin or Ethereum holdings.

The product, which is powered by Morpho, an open-source lending protocol built on Coinbase's Base blockchain network, allows users to borrow up to $5 million USDC in under a minute. The interest rates are variable and automatically calculated based on market conditions, adjusting with each block created on the Base blockchain.

The UK launch marks the first international expansion of the product since its introduction in the United States in January 2025. Coinbase has stated that it plans to expand access to further countries in the near future.