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Coinbase Launching Wrapped XRP ADA DOGE LTC on Base
By: cryptosheadlines|2025/05/15 17:00:18
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Coinbase is launching wrapped XRP, ADA, DOGE, LTC as cbXRP, cbADA on its Base Layer 2These Coinbase wrapped tokens like cbDOGE, cbLTC will bridge non-EVM assets to Base DeFiBrian Armstrong’s Coinbase strategy includes wrapped tokens on Base for crypto expansionAttempting 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.cbADA, cbDOGE, cbLTC, cbXRP coming soon. These assets are not yet live or available. We will announce their launch at a later date.— Coinbase Assets (@CoinbaseAssets) May 13, 2025Official Contract Addresses Released for New Base-Wrapped TokensWhile 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 BaseWrapped 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 StrategyCoinbase’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).Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.Source link
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