Coinbase Expands UK Services with Crypto Lending Feature

Coinbase has expanded its services to the UK by introducing a crypto lending feature that enables customers to borrow USDC using Bitcoin, Ethereum, or cbETH as collateral.

The new feature is powered by Morpho, an on-chain lending protocol, which provides variable interest rates with no set repayment period. This means users can choose to repay their loan in bits or entirely at their own will.

According to Coinbase, the offering is part of its drive to increase financial services in the UK and make crypto-backed loans a viable option for customers. The company has noted that it is working to create the best financial app in the UK through such initiatives.