Coinbase Launches cbADA and cbLTC on Base, Boosting DeFi Activity by 290%

Coinbase has launched cbADA and cbLTC on its Layer-2 network, Base, marking a significant advancement in cross-chain integration. By converting Cardano (ADA) and Litecoin (LTC) into ERC-20 assets, Coinbase enables holders to engage in Ethereum-style decentralized finance (DeFi) activities, such as yield farming, liquidity pools, and decentralized trading, without liquidating their native coins. This initiative aligns with Coinbase’s vision of creating a unified DeFi ecosystem that supports diverse blockchains.

Both cbADA and cbLTC are minted and burned on a one-to-one basis against ADA and LTC held in Coinbase’s custody. Regular proof-of-reserves audits ensure that each wrapped token is fully backed by the corresponding real asset, providing transparency and security for both institutional and retail users. This approach aims to build trust in DeFi protocols by offering verifiable security measures.

Since their launch, over 2.9 million cbADA and more than 11,300 cbLTC tokens have been circulated on Base, indicating strong initial demand. These figures have contributed to Base’s total value locked, which now exceeds $3 billion. The introduction of cbADA and cbLTC has sparked new liquidity-mining initiatives and yield opportunities within the Base ecosystem, further enhancing its competitive edge in transaction volume and developer activity.

This expansion follows Coinbase’s previous launches of wrapped Bitcoin, Ether, XRP, and Dogecoin on Base, demonstrating its ambition to serve as a comprehensive DeFi hub. By integrating Cardano and Litecoin into the Ethereum compatibility layer, Coinbase is broadening user options and accelerating the unification of different blockchain communities. As more protocols adopt cbADA and cbLTC, the landscape of innovative financial products, synthetic derivatives, and cross-chain lending markets is expected to grow, aligning with Coinbase’s roadmap for a more interconnected DeFi future.