Morpho launches Base lending market backed by Coinbase stock tokens

Morpho has launched a lending market on Base that lets users borrow USDC against Coinbase-issued stock tokens, according to The Defiant. Users can use five stock tokens tied to Apple, Alphabet, Nvidia, Meta and SpaceX as collateral to borrow USDC at either variable or fixed rates. Coinbase has been issuing the stock tokens to users outside the U.S. since August. Users can hold the tokens in self-custody wallets and access U.S. dollar liquidity through collateralized loans without selling the underlying assets.