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      Base Financing Markets Experience 133% Growth in 2026 Due to Morpho and Coinbase Collaboration

      The integration of Morpho and Coinbase has significantly transformed Base into a leading decentralized finance lending hub, with onchain collateral in Morpho x Coinbase vaults increasing from $1.5 billion to $3.5 billion in 2026, marking a 133% growth. By mid-September 2026, Coinbase's collateral on Morpho, primarily utilized on Base, reached approximately $3.62 billion, alongside $1.57 billion in outstanding loans distributed among around 53,000 active users.

      The growth trajectory began in January 2025 when Coinbase introduced variable-rate USDC loans against cbBTC through Morpho on Base, achieving full rollout by May 2025. The partnership further expanded with the launch of fixed-rate bitcoin-backed loans via Morpho Midnight on September 22, 2026. Cumulative loan originations through Morpho have now exceeded $3 billion, with total deposits on the platform surpassing $5 billion by early August 2026, driven largely by Coinbase's activities.

      In addition to traditional lending, Coinbase has started to offer markets that accept tokenized stocks as collateral for USDC transactions, with five tokenized stocks available as of September 2026. Although usage in these new markets remains modest, the move reflects Coinbase's commitment to integrating with onchain lending protocols while adhering to regulatory compliance as a publicly traded entity in the United States. The increase in active users indicates a shift towards broader adoption of decentralized finance lending beyond the typical large wallet holders.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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