Coinbase has launched cbXRP and cbDOGE, expanding DeFi access on its Base network. These ERC-20 tokens are backed by original XRP and Dogecoin holdings from Coinbase, addressing growing market demand and user interest. 2.3 million cbXRP and 10.4 million cbDOGE were issued within the first 24 hours, demonstrating strong initial demand. Base, with over $15 billion in assets locked, showcases the potential of Ethereum Layer-2 solutions to enhance transaction speeds and lower fees. Coinbase’s move is a key step towards leveraging its network for improved DeFi access, driven by Brian Armstrong, CEO of Coinbase, who stated that the launch marks significant expansion of DeFi options for XRP and Dogecoin holders. The initiative is supported by positive feedback from users, emphasizing trust in Coinbase while addressing concerns about potential scams through official communication channels. Coinbase plans to introduce more wrapped assets on Base, including Litecoin and Cardano, further solidifying its multi-asset ecosystem. This strategy aims to attract a wider user base and boost overall DeFi growth on the network. While this move is anticipated to have significant financial implications, regulatory scrutiny remains a key factor for stakeholders who will be observing Coinbase’s track record of compliant practices. The impact on asset handling in DeFi environments could be profound with potential shifts in how assets are managed, handled, and traded.