Borrow against tokenized Coinbase
Teller pools accept COINon, Ondo's tokenized Coinbase share, as collateral on Ethereum at up to 58.8% LTV, lending USDC at 6% APR. Unlike the other tokenized shares here, it tends to move with the crypto market. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| COINon | Ethereum | 58.8% | 6% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
Equity collateral that moves with crypto
Every other tokenized share here is uncorrelated with the asset you are borrowing against it. Coinbase is not. Its revenue tracks trading volume, so the stock tends to move with the market that this whole platform runs on.
That is worth knowing when you choose what to deposit. Borrowing against COINon during a crypto drawdown means the collateral is falling for the same reason your other holdings are, which is the opposite of the diversification a tokenized share usually buys you. Tokenized Apple has no such link.
The row clears 58.8% at 6% APR, which is still far above what any crypto asset on the platform earns.
Why the fixed term is worth more here
On a venue that liquidates, correlated collateral is the harder case: the drawdown that pressures your position is the same one moving the collateral, so both arrive together.
A Teller loan has no liquidation threshold during the term, so the two stop compounding. Every loan is fixed-term with no margin-call, and the correlation becomes a fact about the collateral’s value on the due date rather than a mechanism that can close you out before it.
The token
The contract at 0xf042cfa86cf1d598a75bdb55c3507a1f39f9493b reads “Coinbase (Ondo Tokenized)”, with a supply of about 13,950 tokens, the smallest of the Ondo equity set here. Ondo holds the underlying share; the token carries no vote and no direct claim on the company.
Deposit COINon, receive USDC, repay or roll on the due date. Miss the due date and the collateral is forfeit. The pool is on Ethereum, so budget mainnet gas across the approval and the borrow.
Tokenized Circle is the other crypto-linked equity here, and the tokenized stocks page has the full set.
Frequently asked questions
Yes. A Teller pool on Ethereum lends USDC against COINon at 0xf042cfa86cf1d598a75bdb55c3507a1f39f9493b.
It is correlated with crypto. Coinbase's revenue tracks trading volume, so the stock tends to move with the market, where tokenized Apple or Alphabet does not.
On a venue that liquidates it matters a lot, since the drawdown pressuring your position is the same one moving the collateral. Here the term has no liquidation threshold, so the two do not compound.
About 13,950 at the last reading, the smallest supply of the Ondo equity set here. Call totalSupply on the contract for the current figure.
No. The token tracks the share price and Ondo holds the underlying share. There is no vote and no direct claim on the company.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.