Overview
- The service is available to eligible U.S. customers except in New York, with per-loan limits of $1 million.
- Coinbase provides the interface while borrowing is executed by Morpho smart contracts on the Base network.
- Borrowers can take up to 75% loan-to-value with liquidation at 86% LTV and no fixed repayment schedule.
- Wrapped ETH is the initial collateral, with support for staked-ETH (cbETH) planned.
- Coinbase-linked on-chain lending has surpassed $1.25 billion in originations backed by about $1.37 billion in collateral.