Coinbase launches USDC on-chain lending feature
2025-09-18 16:09:05
Coinbase has announced the launch of a new feature that allows users to lend their holdings of USDC stablecoins on-chain. The service is powered by Morpho, a decentralized lending protocol. Its distribution is managed through an on-chain vault curated by Steakhouse Financial on Base, an Ethereum Layer 2 network incubated by Coinbase. When a user deposits a USDC, Coinbase creates a smart contract wallet that routes funds between different lending pools to optimize returns. Coinbase says users can start earning immediately and can withdraw at any time, depending on liquidity.
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