Coinbase has officially launched cbDOGE and cbXRP, the wrapped versions of Dogecoin and XRP, on its Ethereum Layer 2 network, Base. These new tokens are ERC-20 compatible and fully backed 1:1 by real DOGE and XRP reserves held securely by Coinbase. This integration marks a major step forward in expanding cross-chain accessibility for two of the most widely recognized cryptocurrencies in the market.
In the first 24 hours after launch, over 2.3 million cbXRP (valued at approximately $5 million) and **10.4 million cbDOGE** (worth around $1.9 million) were minted—demonstrating strong user demand and immediate adoption. The move not only enhances utility for DOGE and XRP holders but also strengthens Base’s position as a leading Ethereum Layer 2 solution.
👉 Discover how to start trading wrapped assets with low fees and fast confirmations today.
What Are Wrapped Tokens and Why Do They Matter?
Wrapped tokens like cbXRP and cbDOGE enable assets from one blockchain to function on another. In this case, Dogecoin and XRP—originally built on their own independent networks—are now usable within the Ethereum ecosystem via Base. As ERC-20 tokens, they can seamlessly interact with decentralized finance (DeFi) protocols, NFT marketplaces, and other dApps built on or connected to Ethereum.
This interoperability is crucial for users who want to leverage high-value, community-driven assets like DOGE and XRP beyond simple peer-to-peer transfers. With these wrapped versions, investors can now stake, lend, swap, or provide liquidity using DOGE and XRP across a growing suite of Web3 applications—all while maintaining full backing from the original assets.
Coinbase has issued a clear warning to users: scammers may attempt to impersonate cbDOGE and cbXRP through fake contract addresses or phishing sites. To stay protected, always verify that you're interacting with the official Base contract addresses published by Coinbase. Trust only verified sources when adding tokens to your wallet.
Base Emerges as a Leading Ethereum L2 Network
The introduction of cbXRP and cbDOGE further cements Base as one of the most dynamic Layer 2 networks in the crypto space. Built by Coinbase using open-source technology from Optimism, Base offers significantly lower transaction fees and faster processing times than the Ethereum mainnet—making it ideal for everyday DeFi activity.
Today, Base stands as the largest Ethereum Layer 2 network by total value locked (TVL), securing more than $15 billion in assets**. In Q1 2025 alone, it processed over **$3.6 trillion in stablecoin transactions, reflecting an explosive increase in on-chain usage and institutional interest.
This growth is fueled by strategic integrations like wrapped assets, native yield opportunities, and increasing support from major wallets, exchanges, and dApp developers. As more users migrate to Base for its speed, cost-efficiency, and security, the ecosystem continues to expand rapidly.
Future Expansions: Litecoin and Cardano Integration Coming Soon
While cbXRP and cbDOGE are now live, Coinbase has confirmed that cbLTC (wrapped Litecoin) and cbADA (wrapped Cardano) are currently in development. These additions will bring even more established digital assets into the Base ecosystem, offering users greater portfolio diversification and cross-chain functionality.
This expansion follows the success of cbBTC, Coinbase’s wrapped Bitcoin token on Base, which now boasts a $4.7 billion market cap—proving there's significant demand for trusted, institutionally-backed wrapped assets. By extending this model to other top-tier coins, Coinbase is positioning Base as a unified hub for multi-chain engagement.
👉 Learn how wrapped tokens are reshaping DeFi participation across blockchains.
How to Buy Wrapped XRP (cbXRP) on Base – Step-by-Step Guide
Purchasing cbXRP is straightforward if you follow best practices for security and compatibility. Here's a detailed walkthrough:
- Download a Web3 Wallet
Start by installing a trusted non-custodial wallet such as Coinbase Wallet, MetaMask, or Trust Wallet. These allow direct interaction with decentralized applications on Base. - Set Up Your Wallet Securely
During setup, write down your recovery phrase and store it offline. Never share it with anyone. - Acquire ETH or USDC for Gas Fees
You'll need a small amount of ETH (Ethereum’s native token) to pay transaction fees on Base. Alternatively, some platforms let you bridge USDC directly. - Bridge Funds to Base Network
Use the official Coinbase Wallet dApp browser or a bridge service to transfer your ETH or USDC from Ethereum mainnet to the Base network. This process typically takes under a minute. - Connect to a Decentralized Exchange (DEX)
Open a DEX operating on Base—such as Uniswap, Aerodrome, or De.Fi—and connect your wallet. - Swap for cbXRP
Select your input token (e.g., USDC or ETH) and choose cbXRP as the output. Confirm the trade after reviewing slippage settings and estimated fees. - Add cbXRP to Your Wallet
After the swap, manually add the cbXRP token using its official contract address so your balance appears correctly. - Secure Your Assets
Once acquired, consider storing your wrapped tokens in a hardware wallet or secure environment to minimize risk.
Always double-check the official cbXRP contract address before confirming any transaction to avoid falling victim to scams.
👉 Get started with seamless cross-chain swaps on a secure platform today.
Frequently Asked Questions (FAQs)
What are cbDOGE and cbXRP?
cbDOGE and cbXRP are Coinbase’s wrapped versions of Dogecoin and Ripple’s XRP, issued as ERC-20 tokens on the Base Layer 2 network. Each token is backed 1:1 by actual DOGE or XRP held in reserve by Coinbase, ensuring full asset parity and redeemability.
How can I buy cbXRP on the Base network?
To buy cbXRP, connect a Web3 wallet like Coinbase Wallet to a decentralized exchange (DEX) on Base—such as Uniswap or Aerodrome—and swap ETH or USDC for cbXRP. Make sure you’re using the verified contract address to prevent fraud.
Are cbDOGE and cbXRP safe to use?
Yes, when obtained through legitimate channels. Since these tokens are issued and backed by Coinbase, they are considered highly secure—provided users verify the correct contract addresses and avoid third-party imitations.
Can I convert cbXRP back to native XRP?
While direct redemption isn’t currently available to retail users, Coinbase may introduce bridging or unwrapping mechanisms in the future. For now, cbXRP functions as a tradable proxy within the Base ecosystem.
Why would I use wrapped XRP instead of native XRP?
Wrapped XRP allows you to use your holdings in DeFi protocols, lending platforms, and NFT markets on Ethereum-based chains like Base—something not possible with native XRP on its standalone network.
Is Base part of the Ethereum network?
Base is an Ethereum Layer 2 (L2) scaling solution built using open-source OP Stack technology. It inherits Ethereum’s security while offering faster transactions and lower fees, making it ideal for scalable dApp development.
By launching cbDOGE and cbXRP, Coinbase is accelerating mainstream access to DeFi while reinforcing trust through institutional-grade custody and transparency. As Base continues to evolve into a full-featured Web3 ecosystem, users can expect even broader asset support, improved tooling, and deeper integration across wallets, exchanges, and dApps.
For anyone looking to maximize utility from their digital assets, exploring wrapped tokens on Base offers a powerful pathway into next-generation finance—securely, affordably, and efficiently.