Coinbase Expands Crypto-Backed USDC Loans to U.K. Users with Bitcoin and Ethereum Collateral
Coinbase launched a lending service for U.K. customers on Monday, allowing them to borrow USDC stablecoins using Bitcoin or Ethereum as collateral. Borrowing limits reach up to $5 million for Bitcoin and $1 million for Ethereum. The expansion builds on Coinbase's prior U.S. launch and recent U.K. offerings.
Substrate placeholder — needs review · Wikimedia Commons (CC BY-SA 3.0)U.K. users on Monday, enabling customers to borrow USDC stablecoins using Bitcoin or Ethereum holdings as collateral, ZeroHedge reported. Bitcoin holders can borrow up to $5 million in USDC through the service, while Ethereum-backed loans are capped at $1 million.
U.K. users to pledge cryptocurrency as collateral to access USDC liquidity without liquidating their digital assets. The service operates through Morpho, an open-source lending protocol on the Ethereum layer-2 network Base.
Coinbase first introduced this crypto-backed loan service in the United States in January 2025. 17 billion in USDC loan originations. U.K. users just last week.
Coinbase previously launched savings accounts in November 2025. U.K. market. U.K. CEO stated. U.K. ” Coinbase shares on the Nasdaq fell about 1% on the day, trading above $204. Over the last week, the shares have risen nearly 17%.
Key Facts
Story Timeline
6 events- 2026-04-20
Coinbase launched crypto-backed USDC lending for U.K. users.
1 sourceZeroHedge - 2026-04-15
Coinbase introduced decentralized exchange trading for U.K. users.
1 sourceZeroHedge - 2025-11
Coinbase launched savings accounts.
1 sourceZeroHedge - 2025-02
Coinbase obtained FCA registration, enabling expansion of regulated services in the U.K.
1 sourceZeroHedge - 2025-01
Coinbase first launched the crypto-backed loan service in the United States.
1 sourceZeroHedge - 2026-04-14
Coinbase reported $2.17 billion in USDC loan originations.
1 sourceZeroHedge
Potential Impact
- 01
Stock price volatility for COIN could continue amid crypto market fluctuations.
- 02
Increased accessibility to crypto lending could boost USDC adoption among U.K. users.
- 03
Expansion may enhance Coinbase's market share in the U.K. financial services sector.
- 04
Potential rise in loan originations beyond the current $2.17 billion figure.
- 05
Regulatory scrutiny from FCA might increase with new service offerings.
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