‍Coinbase Offers Up to 10.8% USDC Yield, Bolstered by Morpho
Coinbase has launched a new product offering up to 10.8% returns on USDC deposits. This attractive yield is partially a temporary boost from DeFi lender Morpho, contributing approximately 6% of the returns.
Morpho facilitates overcollateralized loan markets on Ethereum and Base. Steakhouse Financial manages the vaults where user USDC is deposited and allocated to various lending markets, including wrapped Bitcoin and Ethereum products. While the enhanced rates are a marketing strategy and will fluctuate, this integration complements Coinbase's existing crypto-backed loans, powered by Morpho.