Coinbase adds ETH-backed loans via Morpho, letting users borrow up to $1 million

Coinbase now allows users to borrow up to $1 million in USDC against ETH, expanding its onchain loan product offered via Morpho.The ETH-backed launch comes as Coinbase’s BTC-backed loan product has reached $1.25 billion borrowed against $1.38 billion in collateralized BTC.