Coinbase has launched two new wrapped tokens—cbADA (Cardano) and cbLTC (Litecoin)—on its Ethereum Layer-2 network, Base, completing a four-token rollout that began earlier this year.
Each token is 1:1 backed by the underlying asset held in Coinbase custody, with on-chain proof-of-reserves available for public verification. As of launch, Coinbase’s transparency dashboards report:
- 11,364 LTC backing cbLTC
- 2,963,259.36 ADA backing cbADA
These synthetic tokens enable users to access popular non-Ethereum assets on Base’s fast, low-cost infrastructure, further expanding the platform’s DeFi capabilities.
Full Four-Token Bundle Now Live
The debut of cbADA and cbLTC follows earlier June releases of cbDOGE and cbXRP, rounding out the token bundle Coinbase first introduced on May 13. Together, these assets broaden cross-chain utility by bringing traditionally non-EVM assets into the Ethereum ecosystem via Base.
Coinbase’s existing wrapped offerings include:
- cbBTC – a synthetic version of Bitcoin
- cbETH – a liquid staking derivative for staked Ethereum
According to Dune Analytics, cbBTC now holds 24% of the synthetic BTC market, while cbETH represents 7% of all staked ETH—highlighting strong user adoption.
Base Emerges as a Leading Layer-2 Network
With over $12 billion in total value secured, Base is now the second-largest Ethereum Layer-2 network, according to data from L2Beat. The integration of wrapped multi-chain assets significantly boosts Base’s position as a key player in the cross-chain liquidity and on-chain asset markets.
As Coinbase continues to bridge ecosystems, the wrapped token strategy positions Base as a central hub for interoperable, high-performance DeFi.
June 2025, Cryptoniteuae
