Coinbase Lend deposits surpass $500M, offering 7% yield on Base via Morpho, positioning Base as a competitive onchain yield platform.
DeFi & Yields ·
Coinbase Lend deposits have surpassed $500 million, with the service offering depositors a 7% yield on Base through an integration powered by Morpho and curated by SteakhouseFi. The milestone underscores efforts to make onchain yield accessible to retail users and financial institutions alike.
The setup allows Coinbase customers to earn yield directly on Base without intermediaries, while the underlying infrastructure is designed to be replicable. According to the announcement, any neobank or brokerage could deploy a similar yield product on Base using the same foundation. The 7% rate positions the platform as a competitor in the onchain lending and yield-generation space.
What remains unclear is whether the $500 million figure represents total deposits, the portion generating yield, or deposits from a specific cohort. The sustainability of the 7% yield rate—whether it is variable, capped, or subject to market conditions—and the risk profile of the underlying assets have not been detailed in available statements.