Coinbase Brings Cardano and Litecoin to DeFi via New Wrapped Tokens on Base

Coinbase has taken another step toward boosting DeFi participation by launching wrapped versions of Cardano and Litecoin on its Base Layer 2 network.

The new tokens, cbADA and cbLTC, mirror the value of ADA and LTC one-to-one and are fully backed by reserves held by the exchange.

This setup allows users to move ADA and LTC into Coinbase, where they’re automatically converted into wrapped tokens on Base. The process works both ways—cbADA and cbLTC can be sent back to Coinbase and redeemed for the original coins without any change in value.

By turning ADA and LTC into Ethereum-compatible assets, Coinbase enables them to interact with DeFi protocols on Base, including platforms like Aave, Uniswap, and Compound. The approach mimics previous Coinbase efforts that introduced cbBTC, cbXRP, and cbDOGE to the same network.

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According to Coinbase’s reserve data, cbADA launched with about $1.7 million in supply, while cbLTC reached nearly $1 million in its first day. For context, cbXRP has grown to nearly $10 million in issuance, and cbBTC now nears $5 billion—though WBTC remains the dominant tokenized Bitcoin with a $13.9 billion market cap.

Base itself continues to dominate the Layer 2 landscape, leading in both active users and daily transactions, as more assets become accessible across Ethereum’s expanding DeFi ecosystem.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.