Coinbase expanded its DeFi Earn product to Brazil and Canada, allowing eligible users to lend USDC through the app’s “Lending” entry to Morpho, a lending protocol deployed on Base. Funds enter an audited vault curated by Steakhouse Financial to earn on-chain interest, with no lock-up period and redemption available at any time. The product previously attracted nearly $500 million in total deposits in the United States, with a maximum annualized yield of about 7.4%; yields adjust dynamically based on on-chain supply and demand, while Coinbase One subscribers can access higher rates when available.