Coinbase has officially launched cbDOGE and cbXRP, the wrapped versions of Dogecoin and XRP, on its Ethereum Layer 2 network, Base. These are ERC-20 tokens backed 1:1 by real DOGE and XRP held by Coinbase.
Over 2.3 million cbXRP ($5M) and 10.4 million cbDOGE ($1.9M) were issued in the first 24 hours of the launch, showing strong demand.
Coinbase has also warned against scammers who may pretend to offer cbDOGE and cbXRP. To stay safe, users should only trust the official Base contract addresses. Wrapped tokens let users use coins like XRP and Dogecoin on different blockchains. Coinbase’s move brings these popular tokens to Base, giving users lower fees, better trading options, and access to DeFi apps.
This move boosts Base’s position as a top L-2 network with lower fees and faster DeFi access. Base is now the biggest Ethereum Layer 2 network, securing over $15 billion in assets. It has processed over $3.6 trillion in stablecoin transactions in Q1 2025, which shows a sharp rise in network activity.
Coinbase had earlier revealed its plans to introduce wrapped tokens for XRP, Cardano, Dogecoin, and Litecoin on Base. While cbXRP and cbDOGE are now live, cbLTC and cbADA are still in development. This follows the success of cbBTC, which now has a $4.7B market cap.
cbXRP can be bought through decentralized exchanges (DEXs) on the Base network. These DEXs allow you to swap other cryptocurrencies, such as ETH or USDC, for cbXRP. You will need a compatible crypto wallet like Coinbase Wallet, and some ETH to cover transaction fees.
Once set up, you can connect your wallet to a DEX that operates on the Base network and perform the swap. Always ensure you are interacting with the correct cbXRP contract address to avoid scams. Here is a step-by-step guide:
cbDOGE and cbXRP are Coinbase’s wrapped versions of Dogecoin and XRP, launched as ERC-20 tokens on its Base Layer 2 network, backed 1:1 by the original coins.
Use a Web3 wallet to connect to a Base DEX, swap ETH or USDC for cbXRP, and verify the official contract address.
Yes, if bought via official Base contract addresses. Avoid scams by double-checking token info on trusted sources.
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