- Coinbase launched cbADA and cbLTC on Base, backing each ERC-20 token 1:1 with ADA and LTC secure custody.
- Users convert ADA and LTC into wrapped tokens automatically upon deposit, unlocking DeFi access on Aerodrome, Uniswap, Aave.
Coinbase has added wrapped Cardano (cbADA) and Litecoin (cbLTC) tokens on its Base Layer 2 network, aiming to broaden on-chain uses for these coins. In this process, Coinbase holds ADA and LTC in custody and then mints matching ERC-20 tokens at a one-to-one ratio.
Really happy to announce that Coinbase now offer wrapped ADA on Base. Now lets see if we can also reverse it and start having them wrapping assets on Cardano. https://t.co/ttNoBguR52
— Frederik Gregaard (@F_Gregaard) June 26, 2025
Users can send their ADA and LTC from Coinbase accounts to Base addresses and receive cbADA or cbLTC automatically. Conversely, when users transfer cbADA or cbLTC back to Coinbase, the exchange converts the tokens into the original coins at the same ratio.
This wrapping method locks the underlying assets and issues equivalent tokens on Base. As a result, ADA and LTC can now interact with DeFi platforms such as Aerodrome, Uniswap, Aave, Compound and Morpho. Moreover, Coinbase provides proof of reserves for both cbADA and cbLTC, ensuring each token corresponds to real holdings.
Within 24 hours of launch, cbADA reached a supply of approximately $1.7 million, while cbLTC attained nearly $1 million, according to Coinbase’s proof-of-reserves data. In comparison, wrapped versions of XRP and DOGE on Base stand at $9.8 million and $2.3 million, respectively. Meanwhile, wrapped Bitcoin (cbBTC) has a supply of $4.9 billion, making it the largest tokenized asset on the network.
Base leads all Ethereum Layer 2 networks by daily average transaction count and active addresses. The network processes about 9.4 million transactions each day and serves around 2 million unique wallets, according to The Block’s data dashboard. In addition, Base maintains low fees and fast settlement times, which attracts both retail and institutional users.
This expansion brings ADA and LTC into Ethereum’s DeFi world without altering their original networks. Developers can now use wrapped tokens to provide liquidity, earn yield and test new financial products on Base. Observers say the move could unlock more capital flows and strengthen the link between distinct blockchain communities.
Coinbase first launched wrapped Bitcoin on Base in September and followed with cbXRP and cbDOGE earlier this month. With the addition of cbADA and cbLTC, the exchange extends its wrapped-token offering to five major assets. Investors and builders can now tap a broader range of token types for trading, lending and other on-chain activities on a single, low-cost network.
