Coinbase lets XRP, ADA and dogecoin holders borrow up to $100,000 without selling

Coinbase is expanding its crypto-backed lending service in the U.S., now including XRP, Dogecoin (DOGE), and Cardano's ADA as eligible collateral, alongside Bitcoin and Ether. This product allows users to post their crypto as collateral to borrow up to $100,000 in USDC stablecoin without selling their holdings. The borrowing mechanics are routed through the decentralized lending protocol Morpho, meaning the transactions are handled on-chain rather than directly on Coinbase's balance sheet. This expansion is particularly beneficial for holders of assets like XRP and DOGE, which lack built-in staking rewards, offering them a way to access liquidity. The service is available across the U.S., excluding New York. While crypto-backed loans are often marketed as tax-efficient, users face liquidation risk if the collateral value drops too far relative to the loan amount, although Coinbase implements extra buffers and notifications to mitigate this danger.

(Source：CoinDesk)