Coinbase is gearing up to drop cbLTC, a wrapped version of Litecoin that’ll bring LTC into the DeFi world on Base. Alongside cbLTC, wrapped versions of Cardano (cbADA), Dogecoin (cbDOGE), and XRP (cbXRP) are also on the way.
Wrapped tokens are 1:1 tokens, meaning wrapped tokens will be fully backed by respected cryptocurrencies and usable across DeFi apps — once it’s live. None of these assets are live yet, and there’s no official launch date announced.
Coinbase has issued a heads-up: there are already fake tokens and shady actors trying to capitalize on the buzz. So if you see cbLTC or the others being offered anywhere right now, it’s likely a scam.
For when the real versions go live, here are the official contract addresses to keep in mind:
- cbADA: 0xcbADA732173e39521CDBE8bf59a6Dc85A9fc7b8c
- cbDOGE: 0xcbD06E5A2B0C65597161de254AA074E489dEb510
- cbLTC: 0xcb17C9Db87B595717C857a08468793f5bAb6445F
- cbXRP: 0xcb585250f852C6c6bf90434AB21A00f02833a4af
Coinbase says the wrapped tokens will make it easier to bring popular crypto assets into Base’s growing DeFi ecosystem. Think cheaper swaps, new yield options, and better liquidity — all tied directly to some of the biggest names in crypto.
Also Read: Coinbase Launches 24/7 Bitcoin and Ethereum Futures in US
