Coinbase Updates Onchain Loan Offering for U.S. Users

• Coinbase adds XRP, DOGE, ADA, and LTC as collateral for USDC loans in the U.S., excluding New York.
• Users can borrow up to $100K in USDC, with BTC capped at $5M and ETH capped at $1M.
• Lending runs via Morpho on Base, with $1.9B in total loan originations to date.

Coinbase has expanded its onchain crypto-backed lending program by adding XRP, Dogecoin, Cardano, and Litecoin as eligible collateral, widening access to U.S. customers seeking liquidity without selling their digital assets.

The update allows verified users, except those residing in New York, to borrow USDC against a broader range of tokens while maintaining exposure to long-term holdings. The move expands Coinbase’s lending infrastructure and builds on an existing program.

XRP, DOGE, ADA, and LTC Added as Loan Collateral

Under the new offering, customers can borrow up to $100,000 in USDC by pledging XRP, DOGE, ADA, or LTC as collateral. Bitcoin and Ether remain supported assets within the program. Loan limits vary by asset type, with Bitcoin-backed loans capped at $5 million and Ether-backed loans capped at $1 million.

Coinbase Chief Executive Brian Armstrong stated that users can now instantly borrow USDC against the newly supported tokens in addition to BTC and ETH. The company said the program is available to verified U.S. customers, excluding those in New York due to regulatory restrictions.

At the time of the announcement, the combined market capitalization of ADA, LTC, DOGE, and XRP stood above $115 billion, expanding the platform’s available collateral base.

Lending Operates Via Morpho on Base Network

The onchain lending service runs through the Morpho protocol on Coinbase’s Base network. Coinbase provides the user-facing interface, while Morpho facilitates onchain lending markets. The structure links centralized access with decentralized liquidity pools.

Jacob Frantz, product lead at Coinbase, said expanding collateral options allows users to leverage a wider range of digital assets without having to sell them. He noted that broader token support enables borrowers to utilize their holdings in additional financial applications.

Coinbase reported more than $1.9 billion in total loan originations prior to the latest expansion, indicating continued activity in crypto-backed borrowing. The company stated that borrowers face the risk of collateral liquidation if asset values decline significantly. Loan terms vary based on location and prevailing market conditions. Coinbase also said it does not provide tax or investment advice.

Related: Cardano Price Prediction: ADA Drops To $0.2760 Despite Coinbase Loan Integration