Coinbase Expands Base: Adds Wrapped Cardano & Litecoin After DOGE and XRP

The world of crypto is evolving at a dizzying pace, and Coinbase knows it better than anyone. In the midst of the DeFi sector boom, the American exchange continues to push the technical and economic frontiers of interoperability. This week, it is Cardano (ADA) and Litecoin (LTC) that have reached a symbolic milestone: their integration as “wrapped” tokens on Base, the Ethereum layer-2 network developed by Coinbase. This is not just a simple gimmick, but a clear strategy to connect decentralized worlds with each other.

A new gateway to DeFi for Cardano and Litecoin

Coinbase hits hard. Again. By introducing the “wrapped” versions of Cardano (cbADA) and Litecoin (cbLTC) on Base, its Ethereum layer-2 network, the American exchange reshuffles the crypto interoperability deck. Behind this announcement lies a much deeper strategy than just a technical extension.

Until now, ADA and LTC holders were largely stuck on their respective blockchains, which were poorly compatible with major DeFi protocols like Aave, Curve, or Compound. Thanks to this tokenization, these cryptos can now move within the Ethereum universe like a fish in water. 

We are talking about “wrapped assets”, i.e. tokens backed 1:1 by the native asset but transposed onto another network. This allows users to lend, borrow, or participate in liquidity pools without leaving Ethereum’s DeFi ecosystem.

This move fits into a larger dynamic, initiated last September with the launch of cbBTC, the in-house alternative to the famous WBTC. Today, Coinbase holds over 45,000 BTC in reserve for this product, a sign of massive adoption. With cbADA and cbLTC, the company thus broadens the range of assets usable in the DeFi universe… and paves the way for other similar integrations.

Interoperability, the lever of the next crypto wave

Why is Coinbase pushing so hard this logic of wrapped tokens? Because the future of crypto is played at the crossroads of blockchains. For too long, digital assets have remained locked in their silos. The result: untapped potential, neglected yields, and hindered adoption.

Users want fluidity. They want to be able to use their XRP or DOGE on Ethereum, their BTC on Arbitrum, their ADA on Base. Coinbase has clearly understood this need.

By recently adding cbDOGE and cbXRP to its arsenal, the company is not merely responding to a technical demand. It captures a paradigm shift, that of an interconnected Web3, where every asset can play a role, regardless of its original network.

The logic is simple: if we want to open the global economy, we have to break down its borders. By allowing any crypto to be used on Ethereum via Base, Coinbase facilitates access to decentralized finance, yields, liquidity, and innovation. It is a direct response to the current structural limits of the market.

Coinbase, between strategic expansion and stock market frenzy

Behind these technical announcements also lies a well-oiled commercial offensive. This week, Coinbase has accumulated good news: obtaining a MiCA license in Europe, launching a Bitcoin credit card, partnering with Shopify for stablecoin payments… The result: a stock price surge above $375, even beating its 2021 historical record.

Analysts are calling it a “transformative” week. And for good reason. Coinbase is no longer just a simple exchange; it is becoming an infrastructure, a pillar of the new financial system. The launch of wrapped tokens like cbADA or cbLTC represents just one link in a much more ambitious growth chain.

As the market rediscovers crypto promises after a harsh winter, Coinbase takes on the role of catalyst. Its ability to anticipate the expectations of both investors and users makes all the difference. Kraken is following a similar path by also obtaining the MiCA license.