Collateral is expanding across crypto. Coinbase’s tokenized stocks can now be used as collateral for USDC loans on Aave V4, while assets further out the crypto risk curve like HYPE and ZEC can be used as collateral for loans through Morpho directly in the Coinbase app. The collateral base is broadening from BTC, ETH and stablecoins into tokenized equities and the long tail of crypto assets. Feels like a nice tailwind