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.

Borrowing Limits

• Bitcoin holders: up to $5 million worth of USDC
• Ethereum holders: up to $1 million

The exact limit depends on how much of the asset is pledged.

Context & Expansion

• The 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.”

Market Reaction

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.