TechFlow reports that on February 19, Coinbase announced the addition of XRP, Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC) as collateral assets for its on-chain crypto-backed lending product powered by the DeFi protocol Morpho. Eligible U.S. users (excluding those in New York State) can now borrow up to $100,000 in USDC without selling these tokens. Previously, the product supported Bitcoin and Ethereum as collateral, with maximum borrowing limits of $5 million and $1 million in USDC, respectively. Coinbase stated that this on-chain lending service operates on the Morpho protocol deployed on the Base network and has issued over $1.9 billion in loans to date. The company charges a one-time borrowing fee, which is added to the loan principal.
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