Coinbase Adds Solana-Backed Loans, Taking Cumulative Lending Above $2.3 Billion

Coinbase has added support for Solana to its cryptocurrency-backed lending service.

Wu Blockchain reported on May 12 that Coinbase now allows users to post Solana as collateral for its on-chain crypto loan product. Users can borrow up to $100,000 against their SOL holdings.

Cumulative originations for Coinbase’s crypto-backed loans have now exceeded $2.3 billion.

Bitcoin-backed loans make up the vast majority of that total at about $2.17 billion. Ethereum-backed loans stand at about $110 million.