Coinbase adds XRP, Dogecoin, Cardano and Litecoin as collateral for onchain loans via Morpho
Coinbase now allows eligible U.S. customers to use XRP, DOGE, ADA, and LTC as collateral for USDC loans via Morpho.Summary
Coinbase has expanded its onchain loan product, facilitated by the Morpho DeFi protocol on Base, to accept XRP, Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC) as eligible collateral for U.S. customers (excluding New York).
This expansion allows eligible users to borrow up to $100,000 in USDC against these new assets without needing to sell their holdings, aligning with Coinbase's goal to let users leverage their crypto. Previously, the service supported only Bitcoin and Ether, with higher borrowing limits available for those assets.
The loans feature variable interest rates set by Morpho's supply and demand, no fixed repayment schedule, and require borrowers to maintain a healthy loan-to-value (LTV) ratio (borrowing up to 75% LTV, with liquidation at 86%). Coinbase charges a one-time fee upon borrowing, and loan proceeds cannot be used for trading on the exchange.
(Source：The Block)