Exciting news Coinbase to Launch Wrapped XRP, ADA, DOGE, and LTC Tokens on Base Network
Coinbase has announced plans to expand its wrapped token offerings with the upcoming launch of cbXRP, cbADA, cbDOGE, and cbLTC on Base, its Ethereum Layer-2 network.
The news, shared via the official Coinbase Assets X account on May 13, marks a significant step in enhancing interoperability and decentralized finance (DeFi) access for users across multiple blockchain ecosystems.
Wrapped Tokens Coming to Base
Wrapped tokens enable digital assets native to one blockchain to be represented and used on another.
Coinbase’s move will allow XRP, Cardano (ADA), Dogecoin (DOGE), and Litecoin (LTC) holders to interact with Ethereum-based DeFi protocols via Base while benefiting from lower transaction fees, improved liquidity, and wider platform compatibility.
Although Coinbase has yet to confirm a release date, the exchange assured users that official contract addresses for these assets on Base will be:
cbADA: 0xcbADA732173e39521CDBE8bf59a6Dc85A9fc7b8c
cbDOGE: 0xcbD06E5A2B0C65597161de254AA074E489dEb510
cbLTC: 0xcb17C9Db87B595717C857a08468793f5bAb6445F
cbXRP: 0xcb585250f852C6c6bf90434AB21A00f02833a4af
Coinbase also cautioned users against interacting with fake tokens or unofficial claims about the release.
Base’s Growing Influence
Base has quickly established itself as the largest Ethereum Layer-2 network, securing over $15 billion in total value according to L2Beat data.
The addition of new wrapped tokens is expected to further expand Base’s ecosystem and attract broader DeFi activity.
This initiative follows Coinbase’s successful rollout of cbBTC, its wrapped Bitcoin product launched after BitGo announced custody changes for WBTC.
cbBTC adoption surged in response and has since expanded to other chains like Solana, with over 45,000 cbBTC tokens in circulation equivalent to roughly $4 billion.
Despite its momentum, cbBTC currently holds around 16% of the wrapped Bitcoin market, trailing WBTC’s 52.6% dominance and BTCB’s 26.7%, based on data from Dune Analytics.
Why It Matters
The arrival of wrapped versions of popular cryptocurrencies like XRP, ADA, DOGE, and LTC on Base positions Coinbase to capture more DeFi market share and offer users enhanced cross-chain asset utility.
It also highlights growing demand for seamless asset interoperability within the crypto economy.
With no official launch date yet, Coinbase’s move is one to watch as the exchange continues to evolve its Base network and DeFi product lineup.
