Coinbase Expands On-Chain Lending Collateral Assets, Adds XRP, DOGE, ADA, and LTC

Odaily News Coinbase announced that its on-chain crypto-collateralized lending product, provided through the DeFi protocol Morpho, has added XRP, Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC) as eligible collateral assets.

Eligible US users (excluding New York State) can now borrow up to $100,000 in USDC without selling the aforementioned tokens. Previously, the product already supported Bitcoin and Ethereum as collateral, with maximum borrow limits of $5 million USDC for Bitcoin and $1 million USDC for Ethereum.

Coinbase stated that this on-chain lending service operates on the Morpho protocol on the Base network, and the cumulative loan issuance volume has exceeded $1.9 billion to date. The company charges a one-time borrowing fee, which is added to the loan principal.