Lantern Finance Expands Its Loan Product Lineup to Include XRP and DOGE

Lantern Finance, a fast-growing startup in the crypto lending space, announced today that it will begin offering loans backed by XRP and Dogecoin (DOGE)

US-based crypto lender Lantern Finance is expanding its loan product lineup to include XRP and Dogecoin (DOGE), catering to overlooked altcoin holders with new borrowing options.

The startup, which is quickly gaining attention in the lending space for its speed and efficiency, will begin offering loans backed by the two altcoins, two of the most widely held coins by retail investors.

The new offering allows users to borrow up to 25% of their crypto’s value at a 13% annual percentage rate (APR), plus a 2% upfront origination fee. The loans can be disbursed directly in USD to a borrower’s bank account, reflecting Lantern’s focus on simplicity and compliance over DeFi-native complexity.

This move is part of Lantern’s broader strategy to serve crypto holders who sit outside the Bitcoin and DeFi ecosystems—investors who often lack access to borrowing tools despite holding large positions in major altcoins.

“While most lending platforms stick to BTC and ETH, there’s massive untapped demand among holders of assets like XRP and DOGE,” said Jung Won Kim, co-founder and CEO of Lantern.

“We’re building the infrastructure to support the full spectrum of crypto collateral—not just what’s easiest for us to underwrite. Our goal is to create a lending platform that caters to the diverse needs of the crypto community.”

Key Loan Terms:

Supported collateral: XRP, DOGE

Loan-to-Value (LTV): Up to 25%

APR: 13%

Origination Fee: 2% upfront

Term: 12 months

Loan disbursement: USD wired to customer’s bank account or USDC stablecoin

The terms are designed for longer-term holders who are looking to access liquidity without selling their crypto, potentially avoiding taxable events and market timing risks, the company says.

Those interested can apply for a loan or learn more on the website of Lantern Finance.

The company, which recently raised a $1 million pre-seed round, sees this expansion as part of its broader mission to bring more functionality and financial freedom to the average crypto investor.

Unlike competitors that collapsed during the 2022 lending crises, Lantern emphasizes transparency, risk discipline, and not re-lending customer assets.

"Many XRP and DOGE holders still remember what happened with BlockFi and Celsius," said Deegii Altangerel, co-founder and CTO of Lantern.

"We were among those who lost funds to these platforms too—and that experience shaped our entire product approach. We want to offer a safe, reliable, and efficient lending service that puts the customer first."

With XRP and DOGE now live, the team says more altcoin-backed loan support is on the roadmap.

"Our long-term vision is to offer a full-suite of crypto lending products with a wide set of crypto assets to borrow against," Kim said.

"Adding support for these assets is just one more step in that direction as we continue to expand our product offerings and provide more value to the crypto community."