Coinbase has launched crypto-backed USDC loans for users in the United Kingdom. The expansion, announced on April 20, 2026, allows borrowers to use Bitcoin, Ether, or cbETH as collateral to access liquidity without selling their assets. The rollout follows the product’s initial debut in the United States in 2025 and aligns with the UK’s evolving regulatory landscape for cryptocurrency services.
On Monday, April 20, 2026, Coinbase announced the launch of crypto-backed USDC loans for its users in the United Kingdom. The rollout aligns with ongoing regulatory developments that are actively shaping the country’s cryptocurrency market.
According to Coinbase, users can borrow USDC using Bitcoin, Ether, or cbETH as collateral. The loans are issued by Morpho and operate on the Base network, with variable interest rates dependent on market conditions.
Coinbase expands its lending strategy with this global rollout, having first introduced the product in the United States the previous year. That initial offering enabled individuals to borrow up to $1 million using Ether as collateral.
The company’s expansion into the UK reflects its strategy to scale the crypto-backed loan product globally. This follows increasing interest from both institutional investors and consumers seeking liquidity options.
The UK’s regulatory environment, led by the Financial Conduct Authority (FCA), continues to influence the growth of crypto lending. The FCA is developing a proposed regulatory framework for cryptocurrencies scheduled to take effect in October 2027.
Coinbase successfully received FCA registration in February 2025, allowing it to serve UK customers. The current product launch provides the company with a competitive advantage amid increasing regulatory certainty.
This new offering supports Coinbase’s broader on-chain financial infrastructure strategy. The company aims to route consumer financial transactions through blockchain systems.
Prior to this launch, Coinbase introduced decentralized exchange trading and savings account products in the UK in 2025. The crypto-backed loans are designed to provide liquidity without requiring the sale of underlying digital assets.
