According to Foresight News and The Block, Coinbase will launch an on-chain USDC lending service, allowing users to earn returns by lending their stablecoin holdings on-chain. The service is powered by the decentralized lending protocol Morpho, and funds are allocated through an on-chain treasury managed by Steakhouse Financial on the Base network. Coinbase stated that when users deposit USDC, the system will create a smart contract wallet that distributes funds across various lending pools to optimize returns. Users will begin earning returns immediately and can withdraw funds at any time based on liquidity.
Coinbase to launch USDC on-chain lending and wealth management services
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