Coinbase is preparing to launch wrapped versions of XRP, ADA, DOGE, and LTC

Attempting to expand decentralized finance (DeFi) access across blockchains, Coinbase is preparing to launch wrapped versions of XRP, Cardano (ADA)

Coinbase is preparing to launch wrapped versions of XRP, Cardano (ADA), Dogecoin (DOGE), and Litecoin (LTC) on its Ethereum Layer 2 network, Base.

These new wrapped tokens, to be designated cbXRP, cbADA, cbDOGE, and cbLTC, are designed to bridge these non-EVM chain assets to Base’s DeFi ecosystem, which holds over $3.6 billion in total value locked.

cbADA, cbDOGE, cbLTC, cbXRP coming soon. These assets are not yet live or available. We will announce their launch at a later date.

While the tokens aren’t live yet, Coinbase has confirmed their imminent arrival and issued official contract addresses to prevent users from falling for scams or imposters.

This move follows Coinbase’s successful launch of cbBTC, a wrapped Bitcoin product that serves as an alternative to BitGo’s WBTC. Despite cbBTC currently holding just 16% of the wrapped BTC market compared to WBTC’s 52.6%, its rapid adoption showcases the growing demand for native asset representation within Ethereum-compatible ecosystems.

The new wrapped tokens will expand the utility of XRP, ADA, DOGE, and LTC by enabling them to be used in decentralized applications and protocols on Base. This will provide users with greater choice and flexibility in how they manage their digital assets.

Coinbase’s expansion into the wrapped token space also aligns with CEO Brian Armstrong’s broader strategy to scale up Coinbase and facilitate global crypto adoption.

With a $9.9 billion war chest and a recent $2.9 billion acquisition of crypto derivatives platform Deribit, Armstrong has made it clear that Coinbase is scaling up not just through tech, but also via smart mergers. This infrastructure boost could accelerate token utility across Base, especially as Armstrong eyes further international acquisitions and talent recruitment, including outreach to politically active developers from agencies like DOGE (Department of Government Efficiency).