Coinbase Expands Solana Collateral Lending via Morpho

Odaily Planet Daily News: 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 the addition of SOL as a collateral asset will enhance capital efficiency and the liquidity experience for users within the Solana ecosystem. It also reinforces the company’s “Everything Exchange” strategy, which aims to cover a broader range of crypto financial scenarios through a single platform. (The Block)