Coinbase crypto-backed loans reach $2.3 billion as banks tokenize deposits
- —Crypto-backed loan book reached $2.3 billion as of October 17, 2026
- —Variable-rate loans alone topped $1.4 billion by mid-September against roughly $3 billion in collateral
- —Fixed-rate borrowing via Morpho Midnight was added on September 22
- —XRP, DOGE, ADA and LTC became eligible collateral in August, alongside a mortgage partnership with Better
Why it matters: Surging crypto-collateralized lending alongside tokenized deposit efforts by JPMorgan, Citi and BNY pulls crypto closer to mainstream banking rails.
Source: Crypto Briefing