PANews reported on November 20th that, according to The Block, Coinbase has expanded its on-chain lending product to support Ethereum as collateral. Eligible customers can borrow up to 1 million USDC without selling their cryptocurrency. These loans are powered by the Morpho lending protocol on the Base chain, with Coinbase providing the user interface. ETH is the first of several collateral assets that Coinbase plans to support, aiming to serve long-term holders seeking liquidity to meet needs such as down payments or debt refinancing, while avoiding tax triggers. Initially, ETH-collateralized loans will use WETH as collateral, and later will support pledged ETH, which will be converted into cbETH as the underlying collateral token. This service is coming soon. There is no fixed repayment schedule for the loan. Borrowers can avoid liquidation by maintaining a healthy loan-to-value (LTV) ratio, with a maximum loan-to-value ratio of 75%. Liquidation will be triggered when the LTV reaches 86%, the same ratio as for loans secured by BTC. Loan interest rates are determined by supply and demand on Morpho, and loan proceeds cannot be traded on the Coinbase platform. The service is currently available to verified users in the United States (excluding New York State), with plans to expand to international users in the future.PANews reported on November 20th that, according to The Block, Coinbase has expanded its on-chain lending product to support Ethereum as collateral. Eligible customers can borrow up to 1 million USDC without selling their cryptocurrency. These loans are powered by the Morpho lending protocol on the Base chain, with Coinbase providing the user interface. ETH is the first of several collateral assets that Coinbase plans to support, aiming to serve long-term holders seeking liquidity to meet needs such as down payments or debt refinancing, while avoiding tax triggers. Initially, ETH-collateralized loans will use WETH as collateral, and later will support pledged ETH, which will be converted into cbETH as the underlying collateral token. This service is coming soon. There is no fixed repayment schedule for the loan. Borrowers can avoid liquidation by maintaining a healthy loan-to-value (LTV) ratio, with a maximum loan-to-value ratio of 75%. Liquidation will be triggered when the LTV reaches 86%, the same ratio as for loans secured by BTC. Loan interest rates are determined by supply and demand on Morpho, and loan proceeds cannot be traded on the Coinbase platform. The service is currently available to verified users in the United States (excluding New York State), with plans to expand to international users in the future.
Coinbase launches ETH-secured loans through Morpho, allowing users to borrow up to $1 million.
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PANews reported on November 20th that, according to The Block, Coinbase has expanded its on-chain lending product to support Ethereum as collateral. Eligible customers can borrow up to 1 million USDC without selling their cryptocurrency. These loans are powered by the Morpho lending protocol on the Base chain, with Coinbase providing the user interface. ETH is the first of several collateral assets that Coinbase plans to support, aiming to serve long-term holders seeking liquidity to meet needs such as down payments or debt refinancing, while avoiding tax triggers. Initially, ETH-collateralized loans will use WETH as collateral, and later will support pledged ETH, which will be converted into cbETH as the underlying collateral token. This service is coming soon.
There is no fixed repayment schedule for the loan. Borrowers can avoid liquidation by maintaining a healthy loan-to-value (LTV) ratio, with a maximum loan-to-value ratio of 75%. Liquidation will be triggered when the LTV reaches 86%, the same ratio as for loans secured by BTC. Loan interest rates are determined by supply and demand on Morpho, and loan proceeds cannot be traded on the Coinbase platform. The service is currently available to verified users in the United States (excluding New York State), with plans to expand to international users in the future.
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