Wrapped XRP and DOGE Boost Base Network Activity

cbXRP and cbDOGE have landed A new era of DeFi is ready for takeoff

The wrapped versions of Dogecoin and XRP, cbDOGE and cbXRP, have been formally introduced by Coinbase on its Ethereum Layer 2 network, Base. Popular assets like XRP and Dogecoin can now enter the rapidly expanding realm of decentralized finance thanks to the release, which comes after a discreet peek last month.

Users and stablecoin volume increase on the base network.

These ERC-20 tokens are 1:1 backed by Coinbase's actual DOGE and XRP. On the first day of the debut, more than 2.3 million cbXRP ($5M) and 10.4 million cbDOGE ($1.9M) were distributed, indicating high demand. The network's expanding position in the cryptocurrency economy is demonstrated by the fact that its user count doubled in just three months, from 450,000 in Q4 2024 to over 900,000 in Q1 2025. $cbXRP and $cbDOGE join $cbBTC and $cbETH as core assets, set to further fuel Base 's rapidly growing onchain economy.  Pools already live with incentives.

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More Litecoin and Altcoin are on the Way

Coinbase had previously disclosed that it would be implementing wrapped tokens for Litecoin, Dogecoin, Cardano, and XRP on platform. cbLTC and cbADA are still in the development stage. These Litecoin and Cardano wrapped versions will be released later, however cbXRP and cbDOGE are currently operational.  The success of cbBTC, which currently has a $4.7 billion market capitalization, comes after this. With reduced costs and quicker DeFi access, this action strengthens platform's standing as a leading L-2 network.  With more than $15 billion in assets secured, Base is currently the largest Ethereum Layer 2 network.  In Q1 2025, it completed more than $3.6 trillion in stablecoin transactions, indicating a significant increase in network activity.

How to Purchase cbXRP and cbDoge

Buying Wrapped cbXRP and cbDoge is simple. Both can be bought through decentralized exchanges (DEXs) on the Platform network. A compatible crypto wallet like Coinbase Wallet is required and ETH for transaction fees. Below are the steps to follow

• Connect your wallet to a DEX on the Base network and perform the swap.

• Ensure to interact with the correct token contract address to avoid scams.

• Download a trusted web3 wallet like Coinbase Wallet.

• Buy the token for network transactions.

• Send the tokens to your web3 wallet address.

• Connect your wallet to De.Fi and swap your base tokens

• Add the Wrapped token to your wallet to view your balance.

• Secure your funds to keep them safe.

Be Alert of Scammers

Further, Coinbase has issued a warning against fraudulent individuals posing as providers of cbDOGE and cbXRP.  Users should only trust the official Base contract addresses in order to be safe.  Users can utilize coins like Dogecoin and XRP on several blockchains thanks to wrapped tokens.  By bringing these well-liked currencies to portal, Coinbase gives customers access to DeFi apps, greater trading possibilities, and reduced fees.

Coinbase is positioned as a leader in the multichain future of decentralized finance because of Base's wrapped assets, which offer both opportunity and innovation as institutional and retail users look for regulated and effective DeFi solutions. Some of the most well-known currencies are entering Ethereum's DeFi world thanks to Coinbase's steady expansion of its wrapped asset offerings.  This change makes it a more accessible and usable platform and delivers genuine value for users who want to do more with the assets they already possess.