Coinbase Brings Wrapped Cardano and Litecoin Tokens to Base Network

Coinbase just unlocked new DeFi opportunities by launching wrapped versions of Cardano and Litecoin on Base—giving ADA and LTC holders a seamless way to join Ethereum-powered ecosystems.

Coinbase has taken another major step in making decentralized finance (DeFi) more accessible. On June 26, 2025, the exchange officially launched wrapped versions of Cardano (cbADA) and Litecoin (cbLTC) on Base, its Ethereum Layer 2 (L2) network. This move marks a significant push toward wrapped crypto access, enabling ADA and LTC holders to tap into the growing world of DeFi without leaving Coinbase’s ecosystem.

What Are Wrapped Tokens?

Wrapped tokens are digital assets that represent another cryptocurrency, held in reserve. They’re typically used to bring non-Ethereum tokens—like ADA and LTC—into the Ethereum ecosystem, making them compatible with decentralized applications (dApps) and smart contracts.

In this case, cbADA and cbLTC are ERC-20 tokens fully backed 1:1 by actual ADA and LTC held securely in Coinbase’s custody. That means for every wrapped token in circulation, there’s an equivalent ADA or LTC stored and verifiable.

Why This Matters

By launching these tokens on Base, Coinbase is offering users a safe and efficient way to explore Ethereum-based DeFi services using assets that weren’t previously compatible. This includes everything from:

  • Yield farming

  • Lending and borrowing protocols

  • Automated market makers (AMMs) like Uniswap and PancakeSwap

  • Liquidity pools on platforms like Aave and Aerodrome

For example, a Cardano holder who wants to earn interest or participate in DeFi activities can now do so by converting their ADA to cbADA, all without using external bridges or leaving Coinbase’s platform.

Growing Token Circulation

According to recent data, there are already about 2.9 million cbADA and 11,300 cbLTC in circulation. This early adoption is a promising sign that users are eager to bring their ADA and LTC into the broader DeFi space.

These wrapped tokens join Coinbase’s existing suite, which already includes wrapped versions of Bitcoin (cbBTC), Ethereum (cbETH), XRP, and Dogecoin (cbDOGE).

Transparent and Secure

Coinbase emphasizes transparency and safety in this rollout. Each cbADA or cbLTC is redeemable 1:1 for its original asset. The company provides regular proof-of-reserves and has published official smart contract addresses to help users avoid scams or counterfeit tokens.

⚠️ Always verify token addresses before transacting:

  • cbADA: 0xcbADA732173e39521CDBE8bf59a6Dc85A9fc7b8c

  • cbLTC: 0xcb17C9Db87B595717C857a08468793f5bAb6445F

A Bigger Vision for Base

Base has grown rapidly since its launch and now boasts over $3 billion in total value locked (TVL). Coinbase sees Base as the central hub for cross-chain DeFi, aiming to unify assets from different blockchains into one interoperable network.

Adding support for ADA and LTC brings even more liquidity and user activity to the Base ecosystem, helping both newcomers and experienced traders explore DeFi with familiar tokens.

Final Thoughts

Coinbase’s introduction of cbADA and cbLTC on Base is more than just a technical upgrade—it’s a user-friendly bridge between traditional crypto assets and the decentralized financial world. The launch is a big win for wrapped crypto access, empowering ADA and LTC holders to safely enter Ethereum-powered DeFi without complicated workarounds.

As always, do your research and ensure you’re interacting with verified platforms and addresses. But with Coinbase backing the process, this launch could be a game-changer for how people use their crypto in 2025.

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