Coinbase has announced the launch of two new synthetic tokens on the Ethereum layer-2 Base network. The company launched cbADA (Cardano) and cbLTC (Litecoin) on June 25^th. With the addition of cbDOGE (Dogecoin) and cbXRP (XRP), the new additions complete the four-token bundle that Coinbase previewed back on May 13.

Coinbase launches cbADA and cbLTC

Each of the new cb-token is fully backed 1:1 by its corresponding native asset held securely in Coinbase custody. To further strengthen the launch, the Coinbase exchange has published listing wallet addresses and on-chain proof-of-reserves pages that hold the collateral. Since the launch of these two new digital assets, over 2.9 million ADA and over 11K LTC have been wrapped and issued over the Base.

The cbADA and cbLTC join a growing number of tokens on Coinbase’s synthetic asset ecosystem. Their ecosystem already includes cbETH (Ethereum) and cbBTC (Bitcoin). According to the data taken from Dune Analytics, cbETH accounts for 7% of all ETH staking, whereas cbBTC accounts for 24% of the synthetic Bitcoin market.

Coinbase emphasized that the custody structure for cbADA and cbLTC mirrors that of cbETH and cbBTC, with segregated cold wallets and strict controls. Tokens are minted after on-chain deposits are confirmed and are burned when users opt to redeem them for the original assets.

While no official timeline has been released, Coinbase hinted that liquidity incentives similar to the cbETH model would be rolled out on Base-based decentralized exchanges. During the initial launch phase, conversion fees are being waived to encourage early adoption.

Coinbase’s proprietary layer-2 built on the Ethereum network, Base, continues to grow in prominence. According to L2Beat, it is now the second-largest Ethereum layer-2, securing more than $12 billion in assets.

Coinbase also stated that its custody unit will publish quarterly verifications for all synthetic assets under the Coinbase Wrapped label and continue to monitor reserves in real-time.

With the addition of cbADA and cbLTC, Coinbase now provides wrapped ERC-20 access to six of the ten largest non-stablecoins by market capitalization, strengthening Base as a hub for DeFi activities. The launch reflects Coinbase’s broader strategy to expand wrapped token accessibility while maintaining transparency and trust through verifiable reserves and audited smart contracts.

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