Coinbase launches USDC on-chain lending function

Odaily Planet Daily News cryptocurrency exchange Coinbase has announced a new feature that allows users to lend their USDC stablecoins on the chain, a service powered by decentralized lending protocol Morpho, whose allocations are managed through an on-chain vault curated on the Ethereum Layer 2 network Base, a Coinbase-incubated Ethereum Layer 2 network by Steakhouse Financial. When a user deposits USDC, Coinbase creates a smart contract wallet that routes funds between different lending pools to optimize returns. Coinbase says users can start earning immediately and withdraw at any time, depending on liquidity. (The Block)