Coinbase Launches UK Crypto Lending Service

Crypto lending has become increasingly popular in recent years, with more platforms offering borrowing options against digital assets. Coinbase, a leading cryptocurrency exchange, has now launched its crypto-backed lending service in the UK.

The new service allows users to borrow up to $5 million in USDC using Bitcoin or Ethereum as collateral. The funds can be accessed quickly, often within less than one minute, through the Coinbase app.

The system uses a combination of Base blockchain and Morpho protocol to ensure that loans are overcollateralized, protecting lenders against market price drops. This provides an added layer of security for users who choose to borrow against their crypto holdings.