OKX launches flexible USDC loans in Europe

Oct 10, 2026

OKX has launched crypto-backed USDC loans in Europe, allowing customers to borrow up to 250,000 USDC, or 3.25 million USDC for VIP clients, without a fixed repayment term.

OKX said in its Oct. 9 announcement that European customers could access Flexible Loans through its app or website, using crypto already held on the platform as security for USDC borrowing.

OKX loans charge hourly interest without a fixed term

Under the launch terms, OKX allows borrowers to choose when to repay rather than committing to a set maturity date. Customers can make partial repayments or settle the full balance, the exchange said.

Collateral remains locked and can be liquidated

In its European loan service terms, updated Sep. 30, OKX identifies OKX Europe Limited as the operator and limits the service to European Economic Area residents.

The agreement says loan requests are matched with assets supplied by lenders on the platform, with approved proceeds transferred to the borrower’s OKX funding account. According to the terms, pledged collateral is frozen, preventing borrowers from trading or transferring it while it secures the debt.

USDC trading and payments already feature in OKX products

As crypto. news previously reported, Circle and OKX expanded USDC trading access on Sep. 2 across spot, margin and futures markets for eligible customers.

According to that report, the companies also introduced a USDC Margin Growth Program offering qualifying users a monthly 100 USDC reward funded by Circle. Eligibility required opting in, maintaining at least 20,000 USDC for 17 consecutive days, and exceeding 1,000 USDC in qualifying single-side trading volume.

U.S. borrowers have separate crypto-backed loan options

For American holders, earlier Coinbase products provide a separate example of borrowing USDC against crypto. An Oct. 7 report on Ledger’s Bitcoin-backed borrowing through Morpho described Coinbase’s earlier borrowing rollout to most U.S. states, excluding New York at launch.

According to the report, Coinbase converts pledged Bitcoin into cbBTC and sends the token to a Morpho smart contract on Base. Coinbase describes cbBTC as backed one-for-one by Bitcoin held in its custody.

Morpho separately announced on Sep. 22 that Coinbase had added fixed-rate loans through Morpho Midnight, allowing customers to agree on an interest rate and repayment date when borrowing USDC against Bitcoin. Morpho said Coinbase’s existing variable-rate service had more than $1.4 billion in active loans backed by approximately $3 billion in collateral.

For Ledger’s own Oct. 7 product, the wallet maker said eligible customers could pledge cbBTC or wBTC to borrow USDC or USDT, with access depending on country. Ledger said Morpho supplied the lending infrastructure, while Yield.xyz handled the borrowing process and position monitoring inside Ledger Wallet.

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