In brief
- Coinbase’s crypto-backed lending product has expanded to several altcoins.
- Those include XRP, Dogecoin, Cardano, and Litecoin.
- The product faced a wave of liquidations earlier this month.
Coinbase signaled on Wednesday that its crypto-backed lending product is expanding in the U.S., unveiling support for XRP, Dogecoin, Cardano, and Litecoin.
By posting their holdings as collateral on decentralized finance protocol Morpho, customers can borrow up to $100,000 in Circle’s USDC stablecoin, the exchange said on X. The service is available throughout the U.S., excluding New York, Coinbase added.
It marks a continuation of Coinbase’s efforts to broaden the product’s appeal, as it approaches $2 billion in originations, according…
