Coinbase Introduces cbXRP and cbDOGE on Base
Coinbase launches wrapped XRP and Dogecoin—cbXRP and cbDOGE—on Base to boost DeFi access and on-chain utility.
- Coinbase launches cbXRP and cbDOGE on Base Layer-2 network.
- The move brings XRP and DOGE into DeFi with faster and cheaper transactions.
- Wrapped tokens increase on-chain utility while preserving original asset value.
Coinbase has officially launched wrapped versions of XRP and Dogecoin—cbXRP and cbDOGE—on its Layer-2 network, Base. These wrapped tokens allow users to bring popular crypto assets like XRP and DOGE into the decentralized finance (DeFi) ecosystem without leaving the Ethereum-compatible environment.
By wrapping XRP and Dogecoin, Coinbase essentially enables these non-EVM native tokens to be used on the Base blockchain. This means faster transactions, lower fees, and broader utility in the growing world of DeFi protocols.
The initiative represents a growing trend of bridging legacy assets to modern on-chain applications.
What Is cbXRP and cbDOGE?
cbXRP and cbDOGE are Coinbase-backed wrapped tokens, meaning they are 1:1 representations of XRP and Dogecoin, respectively. Each unit of cbXRP or cbDOGE is fully backed by the real XRP or DOGE held in reserve.
This allows users to confidently use wrapped tokens for trading, lending, and liquidity farming on Base without worrying about asset mismatch or security.
For XRP and DOGE holders, it opens a new door to access Ethereum-compatible dApps, NFTs, and DeFi without converting to ETH or stablecoins.
Why It Matters for DeFi and Coinbase Users
The integration of cbXRP and cbDOGE into Base not only boosts the use of Coinbase’s L2 network but also signals a broader push to bring major altcoins into on-chain finance.
Until now, XRP and DOGE had limited participation in DeFi due to their original chains lacking smart contract capabilities. Now, thanks to Base, these communities can enjoy everything from yield farming to NFT purchases.
Coinbase’s move aligns with its vision to build an open financial system for the internet, further pushing crypto adoption beyond simple buying and selling.
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