The exchange now allows users to secure loans up to $100,000 using SOL holdings, amid rising demand for crypto-backed credit.
Coinbase has added Solana as collateral for its crypto-backed lending product, enabling users to borrow up to $100,000 against SOL holdings. Total loan originations on the platform have reached $2.3 billion, driven largely by demand for BTC and ETH-backed loans.
BTC-backed loans account for $2.17 billion of the total, while ETH-backed loans contribute $110 million. The expansion reflects growing interest in onchain lending solutions as digital asset markets evolve.
The move broadens access to liquidity for SOL holders without requiring asset sales, potentially increasing adoption of the token in decentralized finance applications.