Coinbase Expands USDC Borrowing to the UK Against Bitcoin and Ether

• Coinbase has expanded USDC borrowing to the UK, allowing loans of up to $5M against Bitcoin, Ether, and cbETH.
• The UK launch follows Coinbase US Morpho loans in January 2025, with $2.17B originations as of April 2026.
• Coinbase could expand crypto-backed loans to more countries, signaling a broader global rollout.

On April 20, 2026, Coinbase announced the expansion of its crypto-backed lending service to the United Kingdom (UK). The service allows users to instantly borrow up to $5 million in USDC against crypto assets such as Bitcoin (BTC), Ethereum (ETH), and Coinbase Wrapped Staked Ether (cbETH) via Morpho on Base. 

Loans are overcollateralized with assets locked on-chain, feature variable interest rates recalculated per block, and offer instant disbursements to Coinbase accounts, convertible to Great British Pounds (GBP).

Coinbase Launches USDC Borrowing Serv…

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