Coinbase has partnered with onchain lending startup Morpho to offer loans where Coinbase users can borrow USDC against their bitcoin held on the platform. This move is seen as a win for bitcoin, as Coinbase aims to make it more accessible and widely used as a form of money. However, there is some concern about trusting Morpho to hold the bitcoin as collateral. Despite this, the demand for the product has been high. The partnership between Morpho and Coinbase is also seen as a significant win for Morpho. Coinbase's VP of Product, Max Branzburg, has mentioned the potential for integrating with other projects in the future. The initial focus is on bitcoin, but Coinbase plans to expand onchain lending to other assets over time.



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