Coinbase Bridges Assets to Base DeFi with cbXRP cbADA cbDOGE cbLTC

Attempting to expand decentralized finance (DeFi) access across blockchains, 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.

While the tokens aren’t live yet, Coinbase has confirmed their and issued official contract addresses to prevent users from falling for scams or imposters. This move mirrors Coinbase’s earlier success with cbBTC, its wrapped Bitcoin product that emerged 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 growing demand for native asset representation within Ethereum-compatible ecosystems.

Wrapped tokens serve as cross-chain bridges, allowing crypto assets to interact with different ecosystems without abandoning their core value.

For XRP, ADA, DOGE, and LTC–networks traditionally walled off from Ethereum-based DeFi–this is a major leap toward liquidity, fee reduction, and broader utility. Base users will be able to access, trade, and stake these assets without needing to exit the L2 environment.

Coinbase’s strategic expansion into the wrapped token space also aligns with CEO Brian Armstrong’s broader vision for global crypto adoption.

With a $9.9 billion war chest and a recent $2.9 billion acquisition of crypto derivatives platform Deribit, Armstrong has 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 (Department of Government Efficiency).