365int
tags: coinbase, cardano, litecoin, base, cbada, cbltc, defi
Wrapped Goodness on Base
Coinbase just launched wrapped tokens for Cardano and Litecoin: cbADA and cbLTC. They’re now live on its Base layer-2 network.
Each token is backed 1:1 by real ADA and LTC held in secure Coinbase wallets.
Growing the Synthetic Squad
cbADA and cbLTC follow cbDOGE and cbXRP, which launched earlier in June. That completes the 4-token set teased in May.
Coinbase already had cbBTC and cbETH, which are growing steadily in supply and usage.
cbBTC holds 24% of the synthetic BTC market. cbETH covers 7% of all staked ETH.
Safe Custody, No Guesswork
All assets sit in cold storage with tight controls. Coinbase only mints tokens after confirming real deposits.
When users want their real coins back, the cb-tokens are burned. Simple.
Liquidity Coming Soon
Just like cbETH, these tokens will get liquidity boosts on Base’s DEXs. Coinbase hasn’t set a date yet.
They also plan to publish quarterly reports to show reserves and balances.
No fees during launch—Coinbase wants adoption to move fast.
