Set up a USDC loan

Our team is working hard to bring Bitcoin-backed loans to all US customers (excluding NY). We're on track to making this feature available soon, and we encourage you to keep an eye out for it in your mobile app. Please check back regularly or stay tuned for updates via email.

If your account is verified, you reside in the US (excluding New York), and have a Bitcoin (BTC) balance in your Coinbase account, you can borrow USD Coin (USDC) against it.

  • The interest rate and borrowing limits are shown in the Coinbase mobile app.

  • Borrowing limits are calculated using the applicable maximum loan-to-value (LTV) ratio and the value of your BTC balance.

Set up a loan (mobile app only) 

  1. Sign in to the Coinbase mobile app and select your cash balance.

  2. Go to Loans and select Borrow.

  3. Follow the prompts.

  4. On the Borrow screen, enter the amount you want to borrow or select Borrow maximum amount.

  5. Select Continue and follow the prompts to authorize the transaction.

  6. Review the loan preview screen, then select Borrow now. 

The borrowed amount will be deposited to your USDC balance once the transaction has been processed.

Loan management 

You can view your loan details (including loan health), make payments, add collateral, borrow more funds, and manage related notifications from the loan management page in the mobile app.

  1. Sign in to the Coinbase mobile app.

  2. From the My assets tab, select the asset you’re using for collateral. Currently, BTC is the only option. 

  3. Go to Collateral and select your collateral balance to open the loan management page.

Related articles