Coinbase Bridges Assets to Base DeFi with cbXRP cbADA cbDOGE cbLTC

• Coinbase is launching wrapped XRP, ADA, DOGE, LTC as cbXRP, cbADA on its Base Layer 2
• These Coinbase wrapped tokens like cbDOGE, cbLTC will bridge non-EVM assets to Base DeFi
• Brian Armstrong’s Coinbase strategy includes wrapped tokens on Base for crypto expansion

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.

Official Contract Addresses Released for New Base-Wrapped Tokens

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 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 to Enhance Utility for XRP, ADA, DOGE, LTC on Base

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 Wrapped Token Expansion Aligns with Armstrong’s Strategy

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 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).