Coinbase is set to launch wrapped versions of ADA, DOGE, LTC, and XRP on its Base Ethereum Layer-2 network.
These tokens will be backed 1:1 and locked through smart contracts, functioning as equivalents of their native assets on the Base network.
The bridged tokens will allow users to interact with popular cryptocurrencies like ADA and XRP within the Ethereum ecosystem for enhanced utility in DeFi protocols and dApps on Base.
Coinbase cautions users about unofficial versions and scams, with an official release date for these tokens expected to be announced soon.