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

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Suehyeon Lee

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Photo: Piotr Swat/Shutterstock
Photo: Piotr Swat/Shutterstock

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.

SOL
Suehyeon Lee

Suehyeon Lee

shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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