Coinbase has launched cbXRP and cbDOGE on Base to facilitate cross-chain DeFi access, integrating XRP and Dogecoin into DeFi ecosystems.
Wrapped tokens cbXRP and cbDOGE are backed 1:1 by XRP and DOGE held in Coinbase’s custody, allowing seamless interaction with Ethereum-based protocols.
Within 24 hours of the launch, over 2.3 million cbXRP and 10.4 million cbDOGE worth $5 million and $1.9 million, respectively, were issued, indicating strong user demand.
The move enhances Base network's cross-chain liquidity and decentralized application development, positioning it as a competitive hub for onchain utility of mainstream crypto assets.