Coinbase Brings High-Limit USDC Loans to the UK

Coinbase brings high-limit USDC loans to the UK, allowing users to obtain USDC using Bitcoin, Ethereum, or cbETH as collateral. This move expands the company's crypto-backed lending product to the United Kingdom.

Coinbase's Crypto-Backed Lending Product

The loans operate on Morpho, an on-chain protocol built on Base, with maximum amounts reaching five million dollars in BTC-backed loans. The exchange seeks to consolidate itself as the leading financial application in the country.

Key Features of the Loans

• No fixed repayment schedule
• Variable interest rates, automatically calculated by Morpho based on market conditions
• Loans backed by overcollateralized crypto assets

Expansion and Growth

The interest from institutional profiles in the product in the United States, where it launched in January 2025, proved highly compelling, with total loans originated through Coinbase on Morpho exceeding $2.17 billion in USDC. The exchange anticipated that it will continue expanding the service to other countries in the coming months.

Institutional Interest and Market Trends

According to data from SoSoValue, spot BTC ETFs in the United States recorded net inflows of $996.4 million during the past week, the largest weekly volume since mid-January. Jeff Mei, chief operating officer of BTSE, attributed institutional interest to expectations of a de-escalation in the conflict between the United States and Iran.

Coinbase's UK Expansion and DeFi

Coinbase continues to penetrate the British market, coinciding with a week of strong appetite for exposure to crypto assets globally. The company's head for the United Kingdom, Keith Grose, noted that this product follows the debut of decentralized trading in April 2026, the savings accounts launched in November 2025, and the successful registration with the Financial Conduct Authority (FCA) obtained in February 2025.

Key Takeaways

• Coinbase brings high-limit USDC loans to the UK, backed by overcollateralized crypto assets
• Total loans originated through Coinbase on Morpho exceeded $2.17 billion in USDC
• The exchange will continue expanding the service to other countries in the coming months
• Institutional interest in crypto assets is driven by expectations of a de-escalation in the conflict between the United States and Iran

Frequently Asked Questions

What are the key features of Coinbase's crypto-backed lending product?

The loans have no fixed repayment schedule and variable interest rates, automatically calculated by Morpho based on market conditions.

How much have total loans originated through Coinbase on Morpho exceeded?

Total loans originated through Coinbase on Morpho exceeded $2.17 billion in USDC.