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Coinbase Integrates Morpho Midnight for Fixed-Rate Bitcoin Loans

9/23/2026

Coinbase has integrated Morpho Midnight to offer users fixed-rate loans denominated in USDC, secured by their bitcoin holdings.

The move expands the utility of $BTC for retail and institutional participants on the platform, allowing asset owners to access liquidity without selling their positions.

This development shifts the focus toward how major exchanges are embedding decentralized finance protocols directly into their core trading infrastructure.

The core of the setup is the availability of fixed-rate borrowing. Previously, many on-chain lending markets operated on variable rates, which introduced uncertainty for borrowers planning over longer horizons.

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