Coinbase Rolls Out ETH-Backed Loans Up to $1M as Base Lending Tops $1.25B
Coinbase has launched ETH-collateralized loans allowing users to borrow as much as $1 million in USDC, leveraging its Base layer to underwrite and settle positions onchain. The product aims to give larger retail and institutional clients flexible access to dollar liquidity without selling Ether, using Base’s faster settlement and lower fees to scale lending flows.
The announcement follows robust growth on Base, which has now facilitated roughly $1.25 billion in loan volume — a sign that onchain credit markets are maturing. For users this means more liquidity options and potential yield-efficiency, while market participants will watch interest rates, collateralization thresholds, and liquidation mechanics as benchmarks for wider adoption and risk management in the onchain lending space.