DeFi & NFT
By Pankaj K
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Coinbase, one of the biggest crypto exchanges, is making it easier for people who own XRP and Dogecoin (DOGE) to use their coins in decentralized finance (DeFi).
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Wrapped tokens are like copies of real coins, but they work on different blockchains. Here, cbXRP and cbDOGE are versions of XRP and DOGE that work on Ethereum’s system.
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This setup lets XRP and DOGE owners use their tokens on Ethereum apps, which wasn’t possible before because their original blockchains don’t support Ethereum’s smart contracts.
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XRP and Dogecoin usually couldn’t be used in many DeFi apps because their blockchains don’t have the right technology.
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This fits with Coinbase’s bigger plan to grow Base — a faster and cheaper Ethereum Layer 2 network that keeps things safe and decentralized.
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$14.4 billion locked in DeFi apps in early 2025
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$3.6 trillion worth of stablecoins traded recently
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Full compatibility with Ethereum tools and apps
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Because of this growth, Base is becoming a strong platform for tokens like cbXRP and cbDOGE, helping expand the number of tokens that work well with Ethereum.
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By adding wrapped XRP and DOGE, Coinbase is making these coins more useful and also bringing in the big communities of XRP and DOGE users to Base.
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This helps Coinbase become an important gateway between popular cryptocurrencies and DeFi services, bringing more people and money into the Base network.
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People who own XRP and DOGE now have more ways to use their coins than just holding or selling:
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They can trade on decentralized exchanges without middlemen
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They can try out new ways to earn interest (yield farming)
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These new options could make XRP and DOGE more popular and give holders more control over their money.
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