Coinbase just added staked SOL as collateral for its crypto-backed lending product, rounding out a quiet but aggressive expansion that now lets US customers borrow against Bitcoin, staked ETH, and Solana without selling a single token. The cumulative originations for Coinbase’s lending product have reached $2.3 billion by mid-May 2026.
How the loans actually work
The staked ETH loan product, which uses cbETH as collateral, launched around January 22-23, 2026. Borrowers can take out up to $1 million in USDC against their staked Ethereum positions.
SOL and JitoSOL support followed on May 12-13, 2026, with a lower ceiling of $100,000 in USDC. The gap between those two limits reflects the difference in market depth and volatility profiles between the two assets.
Variable interest rates start as low as roughly 5%. There are no fixed repayment deadlines, meaning borrowers can pay back whenever they want.
