Solana Now Accepted as Collateral in Coinbase Lending Service

Coinbase has expanded its on-chain lending service by adding Solana (SOL) as eligible collateral, enabling users to borrow up to $100,000 against their SOL holdings.

Alongside this update, the company also reported that its total crypto-backed loan originations have now exceeded $2.3 billion, with the majority coming from Bitcoin-backed loans at about $2.17 billion. Meanwhile, Ethereum-backed loans account for roughly $110 million.

Source: The Block