Borrow against your crypto

Get instant loans in USDC while continuing to hold your crypto. Loans powered by Morpho.

Borrowing made simple

Access money instantly when you need it - perfect for down payments, debt refinancing, or urgent bills. Loans are powered by Morpho’s billion-dollar onchain lending platform.

Tap into competitive interest rates

Enjoy rates as low as 5% – that’s 2x lower than other crypto-backed loan options. Plus no hidden fees.

Repay at any time

No monthly payments, no deadlines, and settle whenever you want to.

Efficient & tax-friendly

Coinbase will not treat your borrow transaction as a taxable event.

How borrowing works

Choose how much to borrow

Borrow up to $5,000,000 USDC. How much you’re able to borrow depends on the amount of crypto you have available for collateral. Available in the U.S. to start, excluding New York State.

Receive your loan instantly

USDC will be deposited into your Coinbase account and the chosen amount of crypto will be moved onchain to Morpho as collateral.

Repay on your timeline

There are no repayment schedules or deadlines. Your loan to value (LTV) ratio must remain under 86% to avoid triggering an automatic liquidation and be charged a penalty fee.

Do more with USDC, the world's preferred stablecoin

USDC is a trusted stablecoin

USDC is redeemable 1:1 for the US dollar and used in more than 190 countries. 1:1 USDC-USD trades are free on Coinbase.

Earn 4.1% rewards on USDC

Put your assets to work simply by holding USDC and grow your balance in a low-risk way, starting with as little as $1. Earn boosted rates with Coinbase One.

Use USDC for faster global transactions

USDC is a cheap and secure way to move money globally from your crypto wallet to other exchanges, businesses, and people.

USDC runs on multiple blockchains

USDC is available natively on 10 blockchains: Base, Ethereum, Solana, Optimism and more.

More about Morpho

Morpho is an open market onchain lending protocol on Base, that has undergone substantial third party auditing over time. When you borrow a loan using Coinbase’s integration with Morpho, your BTC is converted to Coinbase Wrapped BTC (cbBTC) and transferred to a Morpho smart contract where it is held as collateral. Loans are sourced and managed permissionlessly on the Morpho protocol.

FAQs

What are Crypto-backed loans?
With a crypto-backed loan, you can borrow USDC using your crypto on Coinbase as collateral. Borrowing is enabled by the Morpho onchain lending protocol on Base. Coinbase provides an interface to access Morpho's protocol.

What is the borrow limit?
At launch, you can borrow up to 5,000,000 USDC against Bitcoin, and up to $1,000,000 USDC against Ethereum. Note that transfer limits are set on all Coinbase accounts as a financial safeguard to protect you and your account.

How does collateralization work?
When you start the process of obtaining a loan through our integration with Morpho, you will need to create a smart wallet to transact onchain. For example, in the case of a bitcoin-backed loan, the BTC that you’re required to pledge as collateral will be withdrawn from your Coinbase account, converted to cbBTC, and transferred onchain into a Morpho smart contract.
In order to ensure healthy loans, if the outstanding amount of your loan (including accrued interest) reaches 86% of the market value of the collateral provided, the collateral will be liquidated to repay the loan and cover a penalty fee. After the required amount of collateral has been liquidated, the remaining BTC will be withdrawn from Morpho and deposited back into your Coinbase account. Be sure to monitor the status of your loan regularly, as Coinbase cannot prevent your collateral from being liquidated on Morpho.

Are there any Coinbase fees?
A one-time fee is charged each time you borrow—even when adding to an existing loan—and is applied to your principal. Interest will accrue on your original loan amount and the process fee grand total.

How do I repay my loan?
You can repay your crypto-backed loan at any time in full or in part. There are no due dates or minimum payments, but interest continues to accrue on your outstanding loan balance. Be sure to monitor loan health regularly to make sure your collateral does not get liquidated.

Where are crypto-backed loans available?
At launch, crypto-backed loans are available in the United States,  (excluding NY), with plans to roll out to other markets.