ChainCatcher report, according to The Block, Coinbase has added Solana support to its on-chain crypto collateralized lending product, allowing users to borrow up to $100,000 by pledging their SOL as collateral through the Morpho integration on Base. Coinbase stated that since its launch last year, the total loan volume issued through the product has exceeded $2.3 billion, with Bitcoin-backed loans accounting for $2.17 billion and Ethereum-backed loans totaling approximately $110 million. Additionally, it was reported that Coinbase launched the product in the UK last month, further advancing its on-chain financial services strategy.
Coinbase Adds SOL Support for Base-Based Morpho Lending
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Summary
Coinbase has added Solana (SOL) support to its on-chain lending product, enabling users to borrow up to $100,000 via Morpho on Base. The product has issued over $2.3 billion in loans, including $2.17 billion in Bitcoin and $110 million in Ethereum. Coinbase launched the service in the UK last month. Ethereum news continues to highlight key developments as the platform expands its on-chain financial offerings.
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