American trading platform Coinbase Global Inc. has revealed plans to launch its tokenized product tied to other top coins, including XRP, DOGE, and LTC.
Leading crypto exchange Coinbase is preparing to launch another wrapped version of digital assets on its Ethereum Layer 2 network, Base. These include XRP, Cardano (ADA), Dogecoin (DOGE), and Litecoin (LTC). This marks another step in the exchange’s plan to make crypto more accessible and connected across blockchains.
Wrapped Tokens Are Coming to Base
In a recent X post, Coinbase, the first crypto firm to join the S&P 500 index, confirmed that it will release four new wrapped tokens: cbXRP, cbADA, cbDOGE, and cbLTC. These tokens will be live on Base, Coinbase’s Ethereum Layer 2 platform, and the exchange said it will share the official launch date later.
Wrapped tokens are digital versions of cryptocurrencies from other blockchains. They let people use coins like XRP or Litecoin on Ethereum-based platforms. Base is now the biggest Ethereum Layer 2 network, with more than $15 billion in total value, according to L2Beat data.Â
Coinbase is adding these wrapped tokens to help users trade more easily, get better prices, and use more decentralized financial (DeFi) services like lending, trading, and staking, without leaving the Base network.
The exchange also issued a warning about fake tokens. Since the wrapped assets are not live yet, any early availability claim should be considered suspicious. It published the official contract addresses to help users verify the correct tokens once they are available.Â
The trading platform urged users to rely only on official channels when interacting with these tokens.
Coinbase Builds on cbBTC’s Success
This update comes after Coinbase launched cbBTC, a wrapped version of Bitcoin (BTC) on Base. The exchange made cbBTC because BitGo, the company behind WBTC, changed how Bitcoin is stored. So, cbBTC gives users another way to use Bitcoin on Base.
Since its launch, cbBTC has grown fast. There are now over 45,000 cbBTC tokens, worth around $4 billion. Users can also use the wrapped tokens on networks like Solana (SOL). Meanwhile, cbBTC’s market cap is smaller than that of other wrapped Bitcoin tokens.Â
According to Dune Analytics, WBTC is the most used, with over half the market share. BTCB, used on Binance’s BNB Chain, is second. Meanwhile, cbBTC is ranked third, with about 16% of the market.
Coinbase’s decision to bring wrapped versions of XRP, ADA, DOGE, and LTC to Base is a major step toward improving blockchain connection and utility. While users wait for the tokens to go live, the exchange focuses on safety, access, and strong growth in its wrapped token products.
As Base grows, Coinbase’s wrapped assets could play a key role in shaping the future of DeFi and cross-chain innovation.
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