Coinbase Adds SOL-Backed Loans as Solana ETFs Pull in Fresh Inflows

• Coinbase launched SOL-backed loans through Base, allowing eligible users to borrow up to $100,000 in USDC against Solana holdings
• US spot Solana ETFs recorded roughly $45 million in inflows over two trading sessions this week
• Korean won stablecoin KRWQ expanded onto Solana to support on-chain liquidity and derivatives trading

Solana is seeing increased activity across lending, ETFs, and stablecoin infrastructure. This is because more financial products begin using the network beyond trading. Coinbase recently added SOL-backed loans through its Morpho integration on Base. It allows eligible users to borrow against their holdings without selling them. The move comes as US spot Solana ETFs continue recording inflows and stablecoin activity on the network expands.

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Solana Gains Ground Across Lending, ETFs, and Stablecoin Activity

Coinbase users can now borrow up to $100,000 in USDC against their Solana holdings through the company’s crypto-backed lending product. The loans run through Morpho on Base. This is the same infrastructure Coinbase already uses for Bitcoin and Ether-backed loans.

According to recent reports, Coinbase’s crypto-backed lending platform has surpassed $2.3 billion in total loan originations since launch. Bitcoin remains the largest collateral asset at roughly $2.17 billion in total originations. Meanwhile, Ether-backed loans account for around $110 million.

Coinbase said adding SOL collateral is part of its broader effort to expand on-chain financial services and increase utility for assets held on the platform.

Solana ETFs as Price Shows Volatility

At the same time, spot Solana ETFs have continued attracting new inflows. Data from SolanaFloor showed US spot Solana ETFs recorded roughly $45 million in inflows over two trading sessions this week.

Amidst this, Solana’s price saw a rather volatile day. The asset went from trading at a low of $93.64 to a high of $95.86. At press time, SOL was priced at $94.03 following a 1.06% drop over the past 24 hours.

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Stablecoin Activity Continues Expanding on Solana

Stablecoin and liquidity activity on the network have also continued growing. Korean won stablecoin KRWQ recently expanded onto Solana to support on-chain liquidity and derivatives trading.

The move adds another payment and settlement use case to the network. This is because stablecoin issuers continue exploring blockchain infrastructure with lower transaction costs and faster settlement speeds.

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