Coinbase deepens his decentralized financial push with the launch of Onchain -Loingen for USDC directly within its app.
Summary
- Coinbase has unveiled Onchain USDC loans with yields of up to 10.8% APY.
- Integration with Morpho on the base assigns funds to credit markets via Smart Contract Wallets.
- Rollout starts in selected regions and expands access to Defi without leaving the Coinbase app.
Coinbase has rolled out an onchain credit function for USDC, allowing users to achieve the yields up to 10.8% directly via the app.
The integration, announced On September 18 it connects with the Morpho (Morpho) Lending Protocol on the base, the Layer 2 network of Coinbase. When a user pours USD Coin (USDC), Coinbase automatically generates a smart contract wallet that is compiled for funds to Morpho -Kluizen compiled by Steakhouse Financial.
To maximize the profit, these safes distribute capital under credit markets. The interest starts to build up immediately and as long as there is liquidity, users can withdraw at any time.
Expand USDC tool
The rollout builds on the existing USDC Rewards program from Coinbase, which currently offers up to 4.5% APY for holding the Stablecoin. By using permissionless markets via Morpho, the new service offers more than double those rewards while the well -known Coinbase interface is retained.
The function is initially available for users in the US (excluding the state of New York), Bermuda, Hong Kong, the United Arab Emirates, New Zealand, the Philippines, Taiwan and Zuid -Korea. Coinbase said that wider access will follow in the coming weeks.
Morpho is currently securing more than $ 8 billion in total value, which emphasizes the demand for decentralized loans. Thanks to this integration, Coinbase will serve as an access gate to these markets, giving retail users access to the returns on chains without having to deal with complex Defi protocols directly.
Build a USDC tool -Ecosystem on Coinbase
In 2025, Coinbase gradually increased the range of USDC-linked services it offers. It launched USDC loans supported by Bitcoin in January, which later increased the limit to $ 1 million. The exchange has also extended USDC integrations to derivatives, NFTs and even AI-driven payments, which creates what it describes as a “flywheel” effect for adoption.
USDC is still one of the most liquid and extensively used stablecoins, with more than $ 73 billion in circulation. Coinbase’s onchain credit function adds another use case, which strengthens the bet that stablecoins will anchor the mainstream acceptance of crypto financing.
