Product 22/09/2026 Coinbase Launches Fixed-rate Crypto-backed Loans Powered by Morpho Midnight
Coinbase launched fixed-rate crypto-backed loans powered by Morpho Midnight, and the integration was described as the first enterprise-scale use of Morpho Midnight on Base. Morpho Midnight was presented as adding fixed maturities and market-priced borrowing to Base, with Coinbase listed as the first enterprise deployment on Sept. 22.
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Coinbase users are the clearest group affected immediately, because the launch puts fixed-rate crypto-backed loans into their borrowing options at scale. The launch was framed as an enterprise-scale integration, so the change is visible in the lending product Coinbase offers on Base today.
Compared with earlier borrowing flows, the product now includes fixed maturities and fixed-rate loans instead of only the borrowing terms that were available before. The Base deployment also adds market-priced borrowing, while the core borrowing function remains on-chain and tied to Morpho Midnight.
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 24 days ago | Coinbase adds fixed-rate bitcoin-backed loans through Morpho Midnight event | 4 actors in common · 4 news media |
| 21 days ago | Aave V4 on Base adds Coinbase tokenized stocks as collateral for USDC loans event | 2 actors in common · 11 news media |
| 24 days ago | Circle launches Bitcoin-backed USDC borrowing for institutional clients event | 2 actors in common · 2 news media |
| 17 days ago | El Salvador rolls out stablecoin app five years after Bitcoin legal tender move event | 1 actors in common · 2 news media |
| 17 days ago | Coinbase's payment push goes country-scale as El Salvador pivots into stablecoins event | 1 actors in common · 3 news media |