Major cryptocurrency exchange Coinbase has unveiled wrapped versions of XRP (cbXRP) and Dogecoin (cbDOGE), now live on its Base blockchain platform. This development enables broader utility for these assets within Ethereum-compatible ecosystems.
Key Features of cbXRP and cbDOGE
- ERC-20 Tokens: Backed 1:1 by XRP and DOGE held in Coinbase custody.
- On-Chain Utility: Transferable across decentralized applications (dApps) on Base.
- Transparency: Contract addresses verified by Coinbase to prevent fraud.
👉 Explore wrapped assets on Coinbase
Why Wrapped Assets Matter
Wrapped tokens bridge non-Ethereum-native assets (like XRP and Dogecoin) to ERC-20 environments, unlocking functionalities such as:
- DeFi lending/borrowing
- NFT marketplaces
- Cross-chain swaps
Coinbase previously launched cbBTC (wrapped Bitcoin) and cbETH, adopting a similar model for XRP and Dogecoin.
Market Impact and Price Trends
Despite the announcement, XRP and Dogecoin saw short-term declines:
| Asset | Price (USD) | 24h Change |
|-------|------------|------------|
| XRP | $2.20 | -2.5% |
| DOGE | $0.1896 | -3.5% |
Macroeconomic uncertainty contributed to broader crypto market sluggishness, with Bitcoin dipping ~1%.
FAQs
1. How do I verify authentic cbXRP/cbDOGE contracts?
Coinbase shared official Base contract addresses—always cross-check these before transacting.
2. Can I redeem wrapped assets for native XRP/DOGE?
Yes, cbXRP and cbDOGE are redeemable 1:1 via Coinbase’s custody reserves.
3. What risks exist with wrapped tokens?
Potential scams impersonating contracts; stick to Coinbase-verified addresses.
👉 Learn more about secure crypto transactions
Final Thoughts
Coinbase’s rollout of wrapped XRP and Dogecoin expands their utility beyond native blockchains, aligning with growing demand for interoperable assets. Investors should monitor adoption rates and regulatory clarity moving forward.
Disclaimer: Crypto markets are volatile—conduct independent research before investing.
### Keyword Integration (Naturally Embedded):
- Wrapped XRP (cbXRP)
- Wrapped Dogecoin (cbDOGE)
- Coinbase Base platform
- ERC-20 tokens
- Crypto market trends
- DeFi interoperability
- Contract address verification
### SEO Notes:
- **Headings**: Hierarchical structure (`#`, `##`, `###`) for readability.
- **Tables**: Used for price data (accessible and scannable).
- **Anchor Texts**: Added 2 engaging CTAs linking to `https://www.okx.com/join/BLOCKSTAR`.