Morpho Midnight has opened all Morpho Blue USDC markets to individual and multi-market fixed-rate orders, expanding beyond its initial cbBTC offering to include WBTC, wETH and tokenized stocks. The peer-to-peer protocol lets users specify rates and maturities, while multi-market offers and callbacks allow capital to remain productive until a match occurs. Coinbase is using Midnight on Base to offer eligible U.S. customers outside New York fixed-rate USDC loans secured by cbBTC, with repayment due at the end of the current or following month. Morpho Blue remains a much larger variable-rate, open-term market, with more than $5.2 billion in outstanding loans and over $16 billion in deposits across integrations, compared with approximately $30 million in Midnight deposits by late September 2026.