The US-based cryptocurrency exchange, Coinbase, has now expanded its loan offerings to include major altcoins such as Ripple’s XRP and Cardano’s ADA. This move allows users to borrow against their crypto assets without having to sell them.

For the time being, the newly introduced service is accessible throughout the USA, with the exception of New York State.

Expanded Support for Altcoins

Coinbase first launched its lending feature, known as Coinbase Borrow, back in 2021. Following a temporary halt and suspension of the service until early 2025, it now wants to give users more borrowing opportunities. Borrowers can now secure loans up to $100,000 in USDC against their holdings in tokens such as XRP, ADA, and others, in addition to existing offerings against Bitcoin (BTC) and Ethereum (ETH).

“Now you can unlock the value of your portfolio without giving up your position. Borrowing up to $100K in USDC against your tokens, instantly, without selling. Available now in the US (ex. NY),” the official announcement states.

This kind of support from a pivotal exchange like Coinbase helps improve the marketing perception and accessibility of these cryptocurrencies. However, despite this growth opportunity, XRP, ADA, and associated altcoins continue to see reduced trading levels, a reflection of a broader bearish market trend.

Historically, significant price hikes occur following new listings or announcements from Coinbase. In contrast, coins that are delisted or experience service terminations often see dramatic declines.

Additional Updates from Coinbase

Coinbase has been proactive in offering new trading options. Recently, it announced the inclusion of RaveDAO (RAVE), Walrus (WAL), AZTEC (AZTEC), and Espresso (ESP) for buying, selling, converting, and other transactions, with prices reflecting a mix of growth and decline in the market.

RAVE Price, Source: CoinGecko

Stay updated on Coinbse and its services as it continues to evolve in the ever-changing crypto landscape.