# Morpho Midnight Deposits Surpass $100 Million in Lending Milestone By Simon Yoon Canonical URL: https://www.tokenpost.com/news/technology/39529 Published: 2026-10-24T01:58:06.000Z Updated: 2026-10-24T01:58:06.000Z Section: Technology > Morpho Midnight also underpins Coinbase’s fixed-rate USDC loans backed by Bitcoin (BTC). Total deposits in Morpho Midnight, its onchain fixed-rate lending market, have topped $100 million, Morpho said, marking a milestone for a market model that also supports Coinbase’s fixed-rate USDC loans backed by Bitcoin (BTC). The market uses lender offers. Lenders set an offer’s price and size, and borrowers choose among available offers. Markets can specify terms such as maturity, collateral and liquidation parameters. Coinbase’s fixed-rate USDC loans were the first enterprise deployment of Morpho Midnight. Coinbase manages the product experience, Morpho provides the credit infrastructure, and Base handles settlement. Borrowers can lock in an interest rate and repayment date when a loan begins. The deployment connects Morpho Midnight’s lending infrastructure with [Coinbase’s fixed-rate loan product](). ## Links in this article - [Coinbase’s fixed-rate loan product](https://www.tokenpost.com/news/business/23467)