Coinbase Just Made XRP and Dogecoin DeFi-Ready on Base — Here’s What That Means

Coinbase is leveling up utility for XRP and Dogecoin holders. The exchange announced that both assets can now be used in DeFi on Base, its Ethereum layer-2 network, thanks to new wrapped versions: cbXRP and cbDOGE.

These wrapped tokens are 1:1 backed and issued directly by Coinbase. That means if you’re holding XRP or DOGE, you can now bridge into the Base ecosystem and start exploring staking, lending, swapping, and more — all while still retaining exposure to your original tokens.

“Wrapped assets like cbXRP and cbDOGE give traditionally siloed tokens real DeFi power,” Coinbase said in the launch note.

Why This Matters:

• XRP and DOGE aren’t natively compatible with Ethereum, so until now, there’s been limited access to DeFi for their holders.
• With Base support, users can now plug into DEXs, earn yields, provide liquidity, or borrow against their wrapped assets — just like with cbETH and cbBTC.
• Early adoption looks strong: within 24 hours, cbXRP crossed $5M in TVL and cbDOGE hit nearly $2M, showing real appetite for this new utility.

The Bigger Picture

This move brings two of crypto’s largest communities — Ripple’s payments crowd and Dogecoin’s meme army — closer to DeFi. It also strengthens Coinbase’s Base strategy, as the L2 continues gaining traction as a more cost-effective, user-friendly DeFi hub.

And it’s not just about speculation. Wrapped assets could soon be used in cross-chain governance, DAO voting, and NFT marketplaces built on Base — expanding their use well beyond trading.

So if you’re holding XRP or DOGE and haven’t touched DeFi yet, this might be your easiest on-ramp.