Coinbase has launched a crypto-collateralized lending service in the UK, enabling users to borrow USDC using BTC, ETH, and cbETH as collateral. The service, powered by the Morpho protocol on the Base chain, allows for loans to be issued in under one minute. Since its launch, the total loans issued have surpassed 2.17 billion USDC. The platform offers features such as loan health monitoring, historical APRs, and liquidation alerts, with interest rates that adjust dynamically based on market conditions. This development marks a significant expansion of Coinbase's financial services in the UK market.