Ledn

Coinbase users can now borrow USDC against bitcoin with the interest rate and repayment date set at the time of origination. The fixed-rate product runs through Morpho Midnight and settles on Base, adding a DeFi-based alternative to Coinbase’s existing variable-rate lending business.

Bitcoin-backed lending is gaining fresh momentum as lenders move toward overcollateralization, transparency and institutional oversight. Silicon Valley Bank says the sector is emerging from the 2022 credit collapse with stronger foundations and broader institutional support.

Tether is expanding the utility of its bullion holdings by enabling borrowing against Tether Gold, or XAUT, through crypto lender Ledn. The move mirrors bitcoin-backed lending and could open a new stream of liquidity for gold holders without forcing a sale.