Banks Tokenize Deposits as Coinbase Offers Morpho-Powered Borrowing

J.P. Morgan, BNY and Citi are building blockchain tools for deposit records and cash movement, while Coinbase’s Morpho-powered service lets eligible U.S. customers borrow against crypto, extending onchain finance into bank operations and customer borrowing. Cumulative USD Coin (USDC) originations through Coinbase on Morpho exceeded $2.17 billion by April 14, 2026. More than $1.4 billion in USDC loans tied to the service were active on Morpho as of Sept. 16. Originations count loans issued over time; active loans measure borrowing still outstanding, so the figures cover different measures and dates. Launched in January 2025, Coinbase’s U.S.

Source: TokenPost