Crypto Loans Now Open for UK Users

Coinbase has rolled out a new feature that lets people in the United Kingdom borrow USDC stablecoins by using their Bitcoin or Ethereum as collateral. The borrowing is powered by Morpho, a public lending protocol that runs on Base, Coinbase’s own layer‑2 network built on Ethereum. By putting crypto into a loan, users can get cash without selling their digital assets. The amount you can borrow depends on what you lock up. Bitcoin holders may access up to $5 million worth of USDC, while those using Ethereum can borrow up to $1 million. The exact limit depends on how much of the asset is pledged.This service follows a launch in the United States earlier this year, where Coinbase already moved $2. 17 billion of USDC into loans by mid‑April. The UK rollout is part of a broader expansion that includes new trading options on the decentralized exchange and savings accounts introduced last November. Coinbase’s entry into regulated UK services began after it received FCA approval in February. The company says the loan product is a step toward becoming “the best place for UK consumers to invest, manage and grow their money. ” While the company’s shares dipped about 1 % on the day, they have risen nearly 17 % in the past week thanks to a rebound across crypto and stock markets.