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Coinbase Adds Solana-Backed Loans on Base Through Morpho Infrastructure

Coinbase expanded its onchain lending product to support Solana collateral through Morpho on Base, and states it has issued more than $2.3 billion in crypto-backed loans since launch last year.

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Fact Check
All three independent news sources — The Block, crypto.news, and Odaily — consistently confirm the core facts: Coinbase added SOL-backed loans of up to $100,000 via Morpho on Base, announced on May 12, 2026. The claim's characterization of SOL as the 'third major collateral asset' is supported by crypto.news, which explicitly calls it 'the third major collateral option alongside Bitcoin and Ethereum.' The Block notes that other assets (XRP, DOGE, ADA, LTC) were also added previously, but these are smaller-cap assets; framing SOL as the third 'major' asset is a reasonable editorial characterization. The slight uncertainty (0.08 false probability) reflects the minor imprecision in the 'third major' framing, as multiple other collateral assets already existed before SOL. The infrastructure details (Morpho protocol, Base network) are confirmed by all sources.
Summary

Coinbase has expanded its onchain crypto-backed lending product to let users borrow up to $100,000 against Solana through a Morpho integration on Base. The company said that since the product launched last year, it has issued more than $2.3 billion in crypto-backed loans, including $2.17 billion backed by Bitcoin and about $110 million backed by Ethereum. The update adds Solana to Coinbase’s supported collateral assets and extends the company’s push into blockchain-based financial services.

Terms & Concepts
  • Onchain lending: Borrowing and lending executed directly on a blockchain through smart contracts rather than through traditional intermediaries.
  • Collateral: An asset pledged to secure a loan; in crypto lending, tokens such as Solana can be locked to back borrowed funds.
  • Base: Coinbase’s Ethereum layer-2 network, designed to support faster and lower-cost blockchain transactions and applications.