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Merlin Egalite
@merlinegalite
Coinbase launched crypto-backed loans powered by @morpho @coinbase users can now access USDC loans directly in their Coinbase app. Under the hood, loans are originated from Morpho markets. This marks a huge milestone for DeFi and its adoption, so I can't be more excited about this integration. Fintech In The Front, DeFi In The Back Aligned with the DeFi mullet meme, it gives users the best of both worlds: the seamless UX offered by Coinbase and the efficiency of DeFi. Coinbase users can quickly obtain a USDC loan against their BTC via their main app. They can then convert the USDC to USD to make purchases at their grocery store, put a down payment on a car/house, use the fiat to start a small business, etc. This essentially bridges DeFi with the real economy, which is a topic I personally care about (what's the point of building stuffs if we're not giving it access to everyone?).
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Merlin Egalite
@merlinegalite
Why Is It Important First, of this kind, this integration will definitely encourage more fintechs and institutions to move onchain and benefit from the network effect inherent to open financial infrastructures such as Morpho: reducing development costs, improving margins, and offering lower fees. From Morpho's perspective, the network will now provide access to millions of Coinbase customers, bringing healthy and organic demand for USDC loans to the @base instance. Forward While this is a huge integration, Morpho isn't stopping here. The team's goal is to bring DeFi to all financial use cases. We won't stop until Morpho is accessible to everyone.
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