Crypto lending services are expanding as digital assets gain broader financial utility. Coinbase Global Inc. (Nasdaq: COIN), a U.S.-based cryptocurrency exchange, announced on Feb. 18 that it has added XRP, DOGE, ADA, and LTC as eligible collateral for its crypto-backed loan product, broadening borrowing access.

The expansion allows users to instantly borrow up to $100,000 in USDC against these crypto holdings without selling their tokens. Coinbase CEO Brian Armstrong shared on social media platform X:

“Our crypto backed loan offerings are expanding. Now you can instantly borrow USDC against your XRP, DOGE, ADA, and LTC, as well as BTC and ETH.”

Coinbase also shared on X the same day: “Holding XRP, DOGE, ADA, or LTC? Now you can unlock the value of your portfolio without giving up your position. Borrow up to $100K in USDC against your tokens, instantly, without selling.”

The product is powered by the Morpho onchain lending protocol on Base, with Coinbase providing an interface that enables users to access onchain borrowing tools directly from their accounts.

Since launching in January, total borrows have reached $1.9 billion. At rollout, customers can borrow up to 5,000,000 USDC against bitcoin and up to 1,000,000 USDC against ethereum, subject to account safeguards and transfer limits.

When a loan’s outstanding balance reaches 86% of the collateral’s market value, assets may be liquidated to repay the debt and cover a penalty fee. A one-time borrowing charge applies each time funds are drawn, and interest accrues on the full loan balance. The service is available across the United States, excluding New York, with plans to expand into additional markets.

• Which new cryptocurrencies can be used as collateral on Coinbase?
  Coinbase now allows XRP, DOGE, ADA, and LTC as eligible collateral for crypto-backed loans.
• How much USDC can users borrow against altcoins?
  Users can instantly borrow up to $100,000 in USDC against XRP, DOGE, ADA, and LTC holdings.
• What happens if a Coinbase crypto-backed loan reaches 86% LTV?
  Assets may be liquidated to repay the debt and cover a penalty fee once the loan hits 86% of collateral value.
• What protocol powers Coinbase’s onchain lending product?
  The crypto-backed loan service is powered by the Morpho onchain lending protocol on Base.

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