Coinbase Expands Lending Collateral to Include XRP, DOGE, ADA, and LTC

Coinbase Expands Crypto Lending Options

Coinbase has announced the addition of XRP, Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC) as collateral options for its on-chain lending product through the DeFi protocol Morpho. Eligible U.S. users (excluding New York) can now borrow funds without selling these tokens.

Detailed Service Overview

Previously, the service supported Bitcoin and Ethereum as collateral, with Bitcoin allowing loans of up to $5 million in USDC and Ethereum up to $1 million in USDC. The newly added four tokens allow users to borrow up to $100,000 in USDC.

Lending Protocol on Base Network

Coinbase stated that its lending service operates on the Morpho protocol within the Base network and has issued over $1.9 billion in loans to date. Borrowers are charged a one-time fee, which is added to the loan principal.