Morpho Launches Collateralized USDC Loans Using Base-Based Stock Tokens

Morpho (MORPHO) has launched a collateralized lending market on Base that enables users to borrow USDC against stock tokens issued by Coinbase. According to Defiant, borrowers can use five stock tokens—Apple, Alphabet, NVIDIA, Meta, and SpaceX—as collateral for variable or fixed-rate loans. Coinbase has been issuing these stock tokens for non-U.S. users since August, allowing them to store the assets in self-custody wallets without selling their holdings to access dollar liquidity.