Coinbase UK Bitcoin Loans Launch Signals Global Expansion Push Amid COIN Dip

Coinbase launched crypto-backed USDC loans for UK users on April 20, 2026, allowing up to $5 million borrows against Bitcoin collateral via Morpho on Base, following $2.17 billion in US originations as of April 14. Coverage evolved to highlight instant disbursements, block-updated rates, no fixed repayments, and Coinbase One rewards up to 3.5% APY, amid $996.4 million spot Bitcoin ETF inflows. By April 21, analysis questions if the FCA-compliant rollout and Australian approvals mark aggressive international growth, though COIN shares fell 6.4% YTD with a 68.52 P/E ratio.