Coinbase, the leading cryptocurrency exchange in the United States, recently unveiled plans involving Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP).
The exchange announced the forthcoming release of cbADA, cbDOGE, cbLTC, and cbXRP – bridged versions of Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP) for the Base network.
This initiative has already been implemented for DOGE and XRP.
Coinbase has launched cbXRP and cbDOGE, new wrapped tokens on the Layer 2 Ethereum network, Base.
These tokens are backed 1:1 by XRP and DOGE held in Coinbase's custody. The exchange aims to facilitate cross-chain usage of XRP and Dogecoin within Base’s decentralized finance (DeFi) ecosystem through these new tokens.
“The launch of these assets expands Coinbase’s wrapped asset offerings and makes it easier for anyone to participate in the on-chain economy through Base’s open and permissionless platform,” stated a Base spokesperson.
While cbXRP and cbDOGE are now available, Coinbase has indicated that cbLTC and cbADA will be released at a later date.
*This is not investment advice.
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