News: Coinbase has launched a crypto-backed lending service in the UK, enabling users to borrow USDC using Bitcoin (up to $5 million) or Ethereum (up to $1 million) as collateral. The service is powered by the Morpho protocol on the Base network. Coinbase has already facilitated $2.17 billion in USDC loans since launching the service in the US in January 2025. The expansion follows recent regulatory approval and the introduction of decentralized exchange trading and savings accounts in the UK.
AI Analysis: This expansion signals Coinbase's commitment to growing its presence in the UK market and offering more sophisticated financial products to its users. The ability to borrow against crypto holdings without liquidation provides liquidity and could attract further adoption.
