- Coinbase expands Base support with cbADA and cbLTC, hitting $2.7M supply in one day.
- Users warned of fake cbADA and cbLTC tokens; only verified contract addresses should be trusted.
Coinbase has introduced wrapped versions of Cardano (ADA) and Litecoin (LTC) on its Ethereum Layer-2 network, Base. These tokens, known as cbADA, and cbLTC, maintain a 1:1 ratio with the original tokens stored in Coinbase custody. The crypto exchange provided the assets are fully backed and transparent through its proof of reserves system.
The tokens operate under the ERC-20 standard, allowing users to transfer ADA and LTC to Base addresses, where they are automatically converted. These conversions also work in reverse. When a user sends cbADA or cbLTC back to their Coinbase account, the tokens convert back into ADA or LTC at the same fixed rate.
This rollout makes it possible for Cardano and Litecoin holders to use their assets on decentralized applications within the Base network. Platforms like Uniswap, Aerodrome, Aave, Compound, and Morpho will now be accessible with the newly wrapped tokens, expanding DeFi utility for both cryptocurrencies.
cbADA and cbLTC are now live on @base. cbADA and cbLTC are ERC-20 tokens backed 1:1 by ADA and LTC held in custody by Coinbase.
Here’s what you need to know ↓ pic.twitter.com/iEUMPOrZYi
— Coinbase Assets 🛡️ (@CoinbaseAssets) June 25, 2025
Base Network Grows with Wrapped Crypto Liquidity
Coinbase now offers five wrapped tokens on Base. The addition of cbADA and cbLTC follows the launch of cbXRP and cbDOGE earlier in June, and cbBTC which debuted back in September. As of the first 24 hours after release, cbADA recorded a supply of roughly $1.7 million, and cbLTC reached close to $1 million.
In comparison, cbXRP and cbDOGE currently stand at $9.8 million and $2.3 million, respectively. The largest of all remains cbBTC, which now holds a supply valued at $4.9 billion. Market data also shows Wrapped Bitcoin still dominates as the leading tokenized Bitcoin product with a market cap of $13.9 billion.
The quick adoption of cbADA and cbLTC indicates growing demand for interoperability and DeFi access across different cryptocurrencies. It also signals continued activity on the Base network, which is leading Layer 2 platforms by usage metrics.
Security Warning from Coinbase Amid Tokens Rollout
While the expansion has been met with increased interest, Coinbase has issued a warning. The exchange alerted users about fake tokens in circulation that may look like cbADA and cbLTC.
There may be fraudulent actors pretending to be cbADA and cbLTC, Coinbase stated.
To help users verify legitimacy, the company shared the official Base contract addresses for the tokens. Users are advised to remain cautious, verify token addresses carefully, and avoid acting on untrusted sources. The warning aligns with standard precautions in the cryptocurrency space, where fake tokens often appear during popular asset launches.
With the latest rollout, Coinbase continues to strengthen its Base Layer 2 ecosystem, supported by rising usage and token expansion. The combined $2.7 million wrapped asset supply within a single day reflects early momentum for cbADA and cbLTC, as they join the broader push toward Ethereum-based decentralized finance.
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