Coinbase Bridges XRP and Dogecoin to DeFi with Base-Wrapped Tokens
Coinbase has launched wrapped XRP (cbXRP) and wrapped Dogecoin (cbDOGE) on its Ethereum layer-2 network, Base, enabling both tokens to be used across decentralized finance (DeFi) protocols.
The move allows XRP and DOGE holders to access DeFi utilities such as swapping, lending, and yield farming—functionality not natively available to either asset. Each wrapped token is backed 1:1 with the original coin and fully custodied by Coinbase.
“This expands the reach of two of crypto’s most popular assets into Base’s growing DeFi ecosystem,” the company stated.
Initial demand was strong: cbXRP surpassed $5 million in total value locked (TVL) within the first day, while cbDOGE approached $2 million, signaling appetite for cross-chain asset utility.
This marks another step in Coinbase’s strategy to scale DeFi through wrapped liquidity, following the success of cbETH and cbBTC. The integration brings meme coin and cross-border payments communities into the Base ecosystem—further solidifying Base as a mainstream entry point for multi-chain DeFi access.
