Coinbase Global Inc. (Nasdaq: COIN) has officially extended its USDC-backed crypto loan service to the United Kingdom, announced on April 20, 2026. Following the strong uptake in the United States, UK users can now borrow USDC against their Bitcoin (BTC), Ethereum (ETH), and Coinbase Wrapped Staked ETH (cbETH) at competitive interest rates. This expansion marks a significant milestone in Coinbase's international lending strategy and signals further rollouts to come.
UK Launch: Instant Liquidity, Flexible Terms
UK customers can unlock liquidity in under one minute directly via the Coinbase app. The borrowed USDC can be transferred globally or converted into fiat currency for everyday spending. Coinbase One subscribers earn up to 3.5% APY in USDC rewards, further enhancing the product's utility. The initial collateral options include Bitcoin, Ether, and Coinbase Wrapped Staked ETH (cbETH), with bitcoin-backed loan limits reaching up to $5 million depending on pledged holdings.
The infrastructure is powered by Morpho, an open-source lending protocol built on Base. Morpho dynamically adjusts annual percentage rates (APR) based on market activity, and there are no fixed repayment schedules, giving borrowers maximum flexibility. Coinbase ensures all terms, including loan health, APR changes, and liquidation thresholds, are clearly displayed before confirmation.
US Success Paves the Way
The UK deployment builds on measurable adoption in the US, where Coinbase launched the service in January 2025. By April 14, 2026, total loans originated through Coinbase via Morpho had surpassed $2.17 billion USDC, demonstrating robust borrower demand. This performance validates the platform structure and lays a solid foundation for geographic expansion.
Coinbase stated: “UK customers can now instantly borrow USDC at competitive rates using their BTC, ETH, or cbETH as collateral, and we plan to expand the range of eligible assets in the future.” The company added that it intends to continue extending access to crypto-backed loans in additional countries in the near future, positioning the UK as the next step in a broader international roadmap.
New Collateral Assets Added: XRP, DOGE, ADA, LTC
Alongside the UK launch, Coinbase also expanded the list of eligible collateral assets. XRP, Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC) have been added as collateral, allowing users to borrow up to $100,000 USDC against these assets. This move diversifies the loan product and taps into the liquidity of widely held cryptocurrencies.
Industry observers view Coinbase's lending service as a bridge between traditional finance and decentralized finance (DeFi), combining regulatory compliance with on-chain efficiency. With the UK market now live and a broader set of collateral options, Coinbase is well-positioned to capture growing demand for crypto credit in 2026 and beyond.