Coinbase Expands Onchain Lending Business with Solana Addition

Coinbase, one of the leading cryptocurrency exchanges, has continued to expand its onchain lending business by adding Solana (SOL) as a collateral asset.

The move allows users to borrow up to $100,000 against their SOL holdings through Coinbase's Morpho integration on Base. This is part of the company's effort to diversify beyond spot trading activity and become an onchain financial infrastructure provider.

Coinbase has been reducing its workforce by around 14% as it adjusts operations and focuses on AI-driven efficiency. The company reported a net loss of $394.1 million in the first quarter, but analysts remain constructive on Coinbase's long-term direction.