en.bitcoinsistemi.com
Coinbase, the largest cryptocurrency exchange in the United States, made an unexpected announcement for Cardano ($ADA), Dogecoin ($DOGE), Litecoin ($LTC) and Ripple ($XRP) in the past weeks.
Accordingly, the exchange announced that cbADA, cbDOGE, cbLTC and cbXRP, which are bridged versions of Cardano ($ADA), Dogecoin ($DOGE), Litecoin ($LTC) and Ripple ($XRP) coins to the Base network, will be released soon.
The exchange has now announced that this announcement has been implemented for $DOGE and $XRP.
Accordingly, Coinbase announced that it has launched two new wrapping tokens called cbXRP and cbDOGE on the Layer 2 Ethereum network Base.
Both tokens are backed 1:1 by $XRP and $DOGE, which are under the custody of Coinbase. The exchange said the aim of the launch of the new tokens is to enable cross-chain usage of $XRP and Dogecoin within Base’s DeFi ecosystem.
“The launch of these assets expands Coinbase’s wrapped asset offerings and makes it easier for anyone to participate in the on-chain economy through Base’s open and permissionless platform,” a Base spokesperson said.
Coinbase stated that while cbXRP and cbDOGE are currently in development, cbLTC and cbADA will be released at a later date.
*This is not investment advice.