DeFi lending protocol Morpho has introduced stock-backed loans on the Base network, enabling users to utilize tokenized equities as collateral. The service, which went live on September 18, 2026, allows borrowing against tokenized shares of Nvidia, Apple, Meta, and Alphabet without the need to sell the underlying assets.
The tokenized stocks are issued by Coinbase and structured as B20-standard tokens, where each token serves as a 1:1 claim on actual shares held in custody. This integration follows a previous partnership between Morpho and Coinbase initiated in January 2025, which originally focused on Bitcoin-backed USDC loans.
The platform supports both fixed and variable lending rates. Risk parameters, compliance controls, and asset eligibility are managed by independent curators rather than the protocol itself. The service is currently restricted for users in the United States and other specific jurisdictions.
Prior to this launch, Morpho’s credit markets on Base recorded approximately $2 billion to $2,3 billion in outstanding loans as of early September 2026. Specific usage figures and loan volumes for the new stock-backed feature have not yet been disclosed by the company.
