Borrow against cbBTC
Teller pools on Base accept cbBTC as collateral at up to 66.7% LTV, lending USDC at 1% APR, the cheapest bitcoin-backed rate on Teller. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| cbBTC | Base | 66.7% | 1% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
The cheapest bitcoin collateral on Teller
The Base pool quotes 1% APR at 66.7% LTV. That rate is the reason to hold cbBTC rather than WBTC if you are choosing a wrapper today: both get the same collateral ratio from Teller pools, and the mainnet WBTC pool has been quoting fifteen times the price for the same loan.
Base gas closes the gap further. An approval and a borrow cost cents there against dollars on Ethereum, which matters more than it looks when the loan itself is a few thousand dollars. The pool lends native Base USDC, at 0x833589fcd6edb6e08f4c7c32d4f71b54bda02913, so the proceeds arrive ready to bridge or spend without a second swap.
What cbBTC is
Coinbase issues cbBTC and holds the bitcoin behind it. The token sits at 0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf on Base with 8 decimals, and it prices within a few dollars of WBTC because both track the same asset.
Coinbase account holders convert between bitcoin and cbBTC inside the app at one to one, with no on-chain mint to run and no merchant to apply to. Everyone else buys it on the open market. The redemption path being an exchange account rather than a public contract is the trade you accept for the convenience, and it puts Coinbase alongside the Teller pool as a counterparty to your loan.
What the loan does
Deposit cbBTC, receive USDC, repay or roll on the due date. Rate, LTV and the roll window lock when the loan opens. No margin call can arrive in between, because a fixed-term pool has no liquidation threshold to cross, so a bitcoin drawdown on day 12 of a 30-day loan leaves your obligation unchanged.
Miss the due date and the collateral is forfeit. That makes the thing to manage a calendar rather than a chart, which is the opposite of how a liquidation-based venue works. Pools run a 30-day payment cycle and add a 1% marketplace fee to the quoted rate.
Holding WBTC instead? Compare the two on the WBTC page. For the broader case against selling, read crypto-backed loans.
Frequently asked questions
Coinbase Wrapped BTC, an ERC-20 on Base that represents one bitcoin held by Coinbase. It carries 8 decimals and tracks the bitcoin price. Coinbase account holders convert between the two inside the app at one to one.
On current pool terms, yes, by a wide margin. The Base cbBTC pool has been quoting near 1% APR against 15% on the mainnet WBTC pool, at the same collateral ratio. Base gas also costs cents rather than dollars.
Nothing happens to the loan. The term is fixed and the pool carries no liquidation threshold during it, so a drawdown cannot force a sale of your cbBTC. The due date is what you owe against.
No. Borrowing takes a wallet signature and nothing else. An account only matters if you want to convert between bitcoin and cbBTC one to one rather than buying the token on the open market.
USDC on Base, from the pool listed above. Funds arrive in the wallet that signed the borrow.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.