# Coinbase Rolls Out Fixed-Rate Bitcoin Loans via Morpho Midnight

*Author: William Peaster*
*Published: Sep 22, 2026*
*Source: https://www.bankless.com/read/news/coinbase-rolls-out-fixed-rate-bitcoin-loans-via-morpho-midnight*

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Coinbase users can now take out bitcoin-backed USDC loans [at a fixed rate](https://x.com/coinbase/status/2102401998842933407), so borrowers know their total interest bill and due date on day one. The product runs on [Morpho Midnight](https://www.bankless.com/read/morpho-midnight-and-the-rate-defis-been-missing), the lending protocol's fixed-term engine, on Base. 

## **What’s the Scoop?**

- **Fixed vs. floating:** Coinbase's existing Morpho loans float, so costs can climb when borrowing demand spikes. The new option sits alongside them for borrowers who want to know exactly what they'll owe and when. 

- **Midnight mainstream:** Coinbase is the largest app to plug into Midnight so far. Morpho CEO Paul Frambot cast it as the start of a scaling phase, with more loan types coming to fintech-style front ends built on DeFi. 

- **Borrow for builders:** Separately, Coinbase Developer Platform unveiled [Borrow for CDP Wallets](https://x.com/CoinbaseDev/status/2102382922930213139), which lets third-party apps offer crypto-backed USDC loans on Morpho Blue. Launch collateral includes cbBTC, cbETH, cbXRP, and SOL, and developers can charge their own origination fee.
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