Coinbase Borrow

Crypto Loans Coinbase
Updated Edited by George Ong
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Coinbase Borrow Overview

Key facts

Product Name
Coinbase Borrow
Parent Company
CoinbaseCoinbase
Website
coinbase.com
Service model
integrated defi
Product status
available
Collateral & debt
BTC converted to cbBTC on Base; Debt currency: USDC
Borrowing rate
Rate not quoted; variable; Variable · Moves with Morpho market utilization · May include a monthly Coinbase platform fee

Additional details

Offer scope
Coinbase Borrow · Variable BTC loan; Variable USDC loan for eligible, verified Coinbase customers in the US except New York, with limited UK and Canadian access. BTC collateral is converted to cbBTC and locked in a Morpho market on Base. Fixed-rate loans have separate fees, maturity, and early-repayment rules.
Amount & term
Account- and asset-dependent · Open-ended variable loan; Loan structure: Open-ended; Maximum: Unknown; Borrowing page lists BTC loans up to 5 million USDC · Setup guide says loans are limited to $15 million; Term: Open-ended
LTV & liquidation
86% LTV for BTC · 4.38% penalty. Coinbase flags the loan as at risk at 90% of the threshold, about 77.4% LTV for BTC. Morpho rules allow partial liquidation.
Fees
2% first $250,000 · 1% above · Added to debt · May include platform fee
Repayment
Partial or full · No due dates or minimum payments · Interest accrues
Availability
US except NY · Limited UK/Canada · Know-your-customer required; KYC: Required; Credit check: Not required
Payout
Coinbase USDC balance · After processing
Custody
Morpho contracts · cbBTC dependency
Underlying protocol
Morpho

Coinbase Borrow Review

Coinbase Borrow

Crypto Loans

6.8 Good

Coinbase Borrow offers Morpho loans through your Coinbase account, with USDC credited to the balance. Processing fees are added to the debt and accrue interest, so you owe more than you receive from the start. Variable loans let you choose when to repay, provided the collateral stays healthy.

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Coinbase Borrow About

Coinbase Borrow is the crypto-backed loan feature inside Coinbase accounts, launched in January 2025. Verified customers borrow USD Coin (USDC) against Bitcoin through Morpho lending markets on Base, so Morpho’s market, not a Coinbase company, supplies the funds.

Bitcoin is converted to Coinbase Wrapped BTC (cbBTC) and locked in a Morpho contract, and the USDC arrives in the Coinbase balance. Variable loans have no due date and add a 2% processing fee on the first $250,000 to the debt. Fixed-rate loans carry a 1% fee and must be repaid by maturity. BTC loans liquidate at 86% LTV.

Borrow is open in the US except New York, with limited access in the UK and Canada. Identity checks apply, with no credit check.

Coinbase Borrow Team

Parent company

Coinbase

CEX

Coinbase is a U.S.

More about Coinbase

Current team

10 profiles

Alesia Haas

 Chief Financial Officer

Emilie Choi

 President & Chief Operating Officer

Dominique Baillet

 Chief People Officer

Rob Witoff

 Chief Technology Officer

Molly Abraham

 General Counsel and Corporate Secretary

Liz Martin

 VP, Markets

Max Branzburg

 VP, Product

Jesse Pollak

 VP, Engineering

Former team

2 profiles

Asiff S Hirji

Former President & COO
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Ownership & affiliation

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