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Coinbase has added fixed-rate Bitcoin-backed loans through Morpho Midnight, The Block reported. Users can borrow USDC against BTC collateral at a set interest rate and with a predetermined repayment date. Coinbase already offers floating-rate loans based on Morpho Blue. According to Coinbase, outstanding floating-rate loans have exceeded $1.4 billion, while collateral assets stand at around $3 billion. Users will now be able to choose between fixed-rate and floating-rate on-chain lending products.