Coinbase has introduced a new ETH-backed lending service, leveraging the Morpho protocol on the Base network. This allows users to borrow USDC using their ETH holdings as collateral, opening up new avenues for liquidity. According to reports, borrowers can access loans up to $1 million USDC. This service is facilitated through Morpho, a decentralized lending protocol known for its efficiency. By utilizing Morpho on Base, Coinbase aims to provide a seamless and cost-effective lending experience for its users. This move positions Coinbase at the forefront of innovative DeFi solutions, providing users with more control over their crypto assets and furthering the adoption of decentralized finance. The ETH-backed lending service aims to provide access to liquidity without selling their ETH. ```