Coinbase to Launch wrapped versions ADA, DOGE, LTC, XRP on Base Network
These are wrapped versions of Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP), designed specifically for use on Base, Coinbases Ethereum Layer-2 network.
This move follows the earlier launch of cbBTC, a wrapped version of Bitcoin that operates on Base. Similar to cbBTC, the newly announced tokens will be backed 1:1 and locked through smart contracts, allowing them to function as equivalents of their native assets on the Base network.
These bridged tokens will enable users to interact with popular cryptocurrencies like ADA and XRP within the Ethereum ecosystem, enhancing their utility in DeFi protocols and dApps operating on Base. Coinbase also confirmed that users will be able to unlock their assets and return them to the original chain through smart contract mechanisms.
The exchange emphasized that these tokens are not live yet, cautioning users to avoid scams or counterfeit versions circulating before the official launch. An exact release date is expected to be announced soon.
The post Coinbase to Launch wrapped versions ADA, DOGE, LTC, XRP on Base Network appeared first on Coindoo.
Read more: https://coindoo.com/coinbase-to-launch-wrapped-versions-ada-doge-ltc-xrp-on-base-network/
Text source: Coindoo
