Coinbase adds fixed-rate Bitcoin-backed loans via Morpho Midnight

Coinbase: Coinbase is a leading cryptocurrency exchange and platform that provides users with trading, custody, and onchain financial services. It has integrated Morpho protocols to power its lending offerings, allowing customers to access BTC-backed loans directly through its app. In this development, Coinbase is expanding its loan options by adding fixed-rate borrowing via Morpho Midnight alongside its variable-rate products. Morpho Midnight: Morpho Midnight is a fixed-rate lending protocol deployed by Morpho on the Base blockchain in July 2026. It enables onchain borrowers and lenders to agree on set interest rates and repayment dates at origination, complementing variable-rate markets. Coinbase's integration marks the first major consumer-facing rollout of the protocol at scale for BTC-backed USDC loans. Protocol Launch: Morpho introduced Midnight on Base earlier in 2026 specifically to bring predictable, fixed-rate credit terms to onchain lending markets. Product Expansion: Coinbase now offers users a choice between fixed-rate loans with locked terms via Morpho Midnight and its existing variable-rate loans powered by Morpho Blue. Platform Integration: Coinbase is the first major consumer platform to integrate Morpho Midnight for large-scale lending, with market makers and other partners also adopting the protocol.