Crypto exchange Coinbase has expanded its onchain loans product offered via DeFi protocol Morpho, adding XRP, Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC) as eligible collateral.
The expansion allows eligible U.S. customers, excluding those in New York, to borrow up to $100,000 in USDC by pledging the four crypto assets as collateral without selling their holdings.
“No matter what you’re holding, you should be able to leverage your crypto without having to sell,” Jacob Frantz, product lead at Coinbase, told The Block. “Being able to borrow against more tokens means more opportunity to make your crypto work for you, and it’s an exciting preview to a future where all kinds of tokenized assets can be used to build better financial services.”
Coinbase first launched the onchain loan product last year, supporting bitcoin and, later, ether. Users can borrow up to $5 million in USDC against bitcoin and up to $1 million in USDC against ether. The product has already seen more than $1.9 billion in loan originations to date, according to company data. The loans are enabled by the Morpho lending protocol on Base, with Coinbase providing the user interface to access the protocol. Coinbase charges a one-time fee each time a customer borrows — even when adding to an existing loan — which is applied to the loan principal, according to its website.
Coinbase’s onchain loans have no fixed repayment schedule, provided borrowers maintain a healthy loan-to-value (LTV) ratio to avoid liquidation. Borrowers can draw up to a 75% LTV ratio, with liquidation triggered at 86%. LTV measures the size of a loan relative to the market value of the posted collateral; it rises as collateral falls in value or interest accrues, and falls when collateral appreciates or the loan is repaid.
Interest rates are variable and set by supply and demand on Morpho. Loan proceeds cannot be used to trade on Coinbase under its terms. The onchain loans are available to verified users in the U.S. (excluding New York), with broader international access planned.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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