Coinbase launched a crypto-backed lending service for UK users that allows borrowing USDC against BTC, ETH, and cbETH collateral. The product uses Morpho for lending infrastructure, while Coinbase Bermuda Technologies Ltd. provides the user-facing product interface. Coinbase previously said the service operates on Base, offers floating borrowing rates that can change dynamically, and supports BTC-backed loans of up to $5 million USDC.