Introduction
Crypto traders holding XRP and Dogecoin (DOGE) can now access yield-generating DeFi opportunities on Base, Coinbase’s Layer-2 blockchain. Coinbase recently launched wrapped versions of these tokens—cbXRP and cbDOGE—enabling seamless integration with Base’s protocols and decentralized finance applications.
What Are Wrapped Tokens?
Wrapped tokens like cbXRP and cbDOGE are 1:1 representations of native assets (XRP and DOGE) held in secure custody by Coinbase. They offer:
- Cross-chain compatibility: Use XRP and DOGE in Base’s ecosystem.
- DeFi integration: Stake, lend, or provide liquidity to earn yields.
- Interoperability: Transfer value across protocols without converting native tokens.
👉 Learn how wrapped tokens boost DeFi liquidity
Market Performance of cbXRP and cbDOGE
- cbXRP: Surpassed $5 million market cap within 24 hours of launch (BaseScan).
- cbDOGE: Nearing $2 million market cap, reflecting strong demand.
| Token | Market Cap (24h) | Native Asset Market Cap |
|--------|------------------|------------------------|
| cbXRP | $5M+ | $128.8B (XRP) |
| cbDOGE | ~$2M | $28.2B (DOGE) |
Why This Matters for Crypto Holders
- Earn Passive Income: Stake wrapped tokens in DeFi protocols like lending pools or DEXs.
- Expand Utility: Use XRP/DOGE beyond their native blockchains (Ripple and Dogecoin networks).
- Low-Cost Transactions: Base’s Layer-2 scalability reduces gas fees vs. Ethereum.
👉 Explore Base’s DeFi ecosystem
Key Takeaways
- Coinbase’s Innovation: Continues bridging traditional crypto assets (BTC, XRP, DOGE) with DeFi.
- Growing Adoption: cbBTC (wrapped Bitcoin) already holds a $4.7B market cap on Base.
- Future Potential: Expect more wrapped assets as DeFi demand grows.
FAQs
Q: How do I convert XRP to cbXRP?
A: Deposit XRP into Coinbase, which mints cbXRP on Base. The process is reversible 1:1.
Q: Can I trade cbDOGE on decentralized exchanges?
A: Yes! Platforms like Uniswap (Base version) support cbDOGE trading pairs.
Q: Are wrapped tokens safe?
A: Coinbase’s custodial backing ensures 1:1 collateralization, minimizing counterparty risk.
Q: What’s the advantage of using Base over Ethereum?
A: Faster transactions and near-zero fees compared to Ethereum’s Layer-1.
Conclusion
Coinbase’s cbXRP and cbDOGE unlock DeFi’s trillion-dollar potential for XRP and Dogecoin holders. By wrapping these assets, users gain yield opportunities, cross-chain utility, and cost efficiency—all while retaining exposure to their favorite tokens.
For the latest updates on Base and wrapped assets, follow Coinbase’s official announcements.
### SEO Keywords:
- Wrapped XRP
- Wrapped DOGE
- Coinbase Base DeFi
- cbXRP and cbDOGE
- Layer-2 blockchain
- Yield-generating DeFi