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Wrapped XRP and DOGE Coming to Base—Coinbase Drops Key Clues
By: coin central|2025/05/14 21:30:06
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TLDRCoinbase will launch wrapped versions of XRP, Dogecoin, Cardano, and Litecoin on the Base network.The wrapped tokens will be called cbXRP, cbDOGE, cbADA, and cbLTC and will trade 1 to 1 with their original assets.These assets are unavailable, and Coinbase has not announced an official launch date.Coinbase released the official Base contract addresses to protect users from fake tokens.The Base network now leads all Ethereum layer-2 networks in total value locked.Coinbase has confirmed plans to launch wrapped versions of XRP, Dogecoin, Litecoin, and Cardano on the Ethereum layer-2 network Base. The announcement places these tokens alongside wrapped Bitcoin (cbBTC), which already exists on Base and holds a $4.47 billion market cap. Coinbase disclosed this move to counter scams circulating fake versions of the assets ahead of their official release.Wrapped XRP to Expand Base Network OfferingsCoinbase will launch a wrapped version of XRP, named cbXRP, on Base to enable broader utility across decentralized applications. The Base contract address for cbXRP is 0xcb585250f852C6c6bf90434AB21A00f02833a4af, shared to help users verify legitimacy. While the token is not live, Coinbase emphasized that trading is currently unavailable.Users can interact with cbXRP in DeFi protocols as they do with Ethereum on Base. The wrapped XRP will maintain a 1:1 peg with native XRP, supporting smooth conversion and usability. Coinbase has not detailed the wrapping process but is expected to use a method similar to cbBTC’s.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, 2025The Base network, built by Coinbase, continues to grow rapidly and now leads all layer-2 chains in total value locked. Adding cbXRP strengthens its ecosystem, enhancing liquidity and transaction volumes. This development follows Base’s significant rise in stablecoin use and user activity over recent quarters.Coinbase Adds Dogecoin to Wrapped Token List on BaseCoinbase will also introduce wrapped Dogecoin (cbDOGE) on Base, expanding support for popular altcoins on its layer-2 network. The contract address for cbDOGE is 0xcbD06E5A2B0C65597161de254AA074E489dEb510, which Coinbase published to prevent fraud. The asset will be tradable only after its official launch, which is yet to be announced.stablecoin usage is growing incredibly fast on @base pic.twitter.com/b4H1yptrNu— jesse.base.eth (@jessepollak) May 13, 2025With the addition of cbDOGE, Base will provide broader asset diversity and increased user engagement across DeFi platforms. Like other wrapped tokens, cbDOGE will be pegged 1:1 to DOGE and fully usable on Base. The exchange’s move aims to solidify Base as a central hub for mainstream crypto activity.The exchange released the information early to protect users from scam tokens pretending to be the wrapped versions. Scammers have previously targeted Coinbase users by promoting fake token listings. The early disclosure with official addresses serves as a preventive security measure.Coinbase to Launch cbADA and cbLTC SoonCoinbase will also deploy wrapped versions of Cardano (cbADA) and Litecoin (cbLTC) to further expand token utility on Base. cbADA will use the contract address 0xcbADA732173e39521CDBE8bf59a6Dc85A9fc7b8c, while cbLTC will use 0xcb17C9Db87B595717C857a08468793f5bAb6445F. These assets are also not yet live, with Coinbase urging users to wait for an official launch date.The exchange is positioning Base as a key network for wrapped assets by integrating these widely used cryptocurrencies. Each wrapped token is designed for seamless activity on Base, mimicking the original token’s value and utility. The exchange plans to make the wrapping process simple, mirroring the cbBTC structure.Coinbase’s strategy follows increased DeFi and stablecoin activity on Base, which saw over $3.6 trillion in Q1 2025 transaction volume. This expansion comes as the exchange continues enhancing wallet features, including encrypted messaging in its latest release. However, some security experts criticize Coinbase for persistent account breaches, which scammers reportedly exploit weekly.The post Wrapped XRP and DOGE Coming to Base—Coinbase Drops Key Clues appeared first on CoinCentral.
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