Coinbase expands Solana-backed lending services through Morpho

Odaily Odaily reports that Coinbase has announced the expansion of its on-chain crypto-collateralized lending products, adding Solana as a supported collateral asset. Users can now borrow up to $100,000 in liquidity based on their SOL holdings. This service operates on the Morpho lending infrastructure deployed on the Base network, consistent with the structure of previously supported loans backed by Bitcoin, Ethereum, and other crypto assets.

Ben Shen, Head of Financial Services at Coinbase, stated that introducing SOL as collateral will enhance capital efficiency and the liquidity experience for users within the Solana ecosystem, while also strengthening the "Everything Exchange" strategy—covering a broader range of crypto finance scenarios through a single platform. (The Block)