Breaking: Coinbase Unleashes Wrapped ADA and LTC on Base Network—DeFi Just Got Hotter

Coinbase just dropped a bombshell—wrapped Cardano (ADA) and Litecoin (LTC) are now live on Base. The move turbocharges DeFi interoperability, letting traders bypass legacy rails. Here’s why it matters.

No More Silos

Base, Coinbase’s Ethereum L2, just became the go-to playground for cross-chain ADA and LTC action. Wrapped tokens mean seamless swaps, yield farming, and leveraged bets—without the usual custody headaches.

The Fine Print

Coinbase’s custodial wrapper keeps regulators at arm’s length (because nothing says ‘compliance’ like a legal loophole). Traders get exposure, but purists will gripe about centralization—same old song.

Bottom Line

Another brick in Coinbase’s walled garden—but hey, at least the fees are lower than a Wall Street intern’s self-respect.

Coinbase Brings Cardano and Litecoin to DeFi on Base

The newly launched ADA and LTC tokens are designed to provide seamless interoperability between Coinbase and onchain environments. Users can send their ADA and LTC from Coinbase directly to Base, where they are automatically converted into ADA and LTC, respectively. These wrapped tokens can then be used across decentralized exchanges (DEXs) like Aerodrome and Uniswap, and lending platforms including Aave, Compound, and Morpho.

Likewise, when users MOVE ADA or LTC back to their Coinbase accounts, the exchange automatically converts the tokens back into the underlying ADA and LTC at a 1:1 ratio. Coinbase also emphasized that both wrapped assets are backed by reserves with verifiable proof, reinforcing trust and transparency in the conversion process.

Interoperability and Utility Boost for ADA and LTC

By introducing wrapped versions of ADA and LTC, Coinbase is unlocking new use cases for both cryptocurrencies that were previously limited to their native blockchains. DeFi applications—such as liquidity provision, staking, and lending—are now available to ADA and LTC holders, without needing to bridge through unofficial services or third-party platforms.

This marks a significant step forward for Cardano and Litecoin, two of the longest-standing crypto assets, which have historically seen limited activity in the Ethereum DeFi space. Wrapped tokens like ADA and LTC create a seamless way for holders to participate in Ethereum-based Apps while maintaining the security of Coinbase’s infrastructure.

Growing List of Wrapped Assets on Base

With the addition of ADA and LTC, Coinbase has now introduced five wrapped tokens to its Base LAYER 2 network. These follow the earlier releases of XRP and DOGE earlier in June, and BTC, which launched in September of last year.

According to Coinbase’s proof-of-reserves data, ADA recorded an initial supply of approximately $1.7 million within its first 24 hours, while LTC reached nearly $1 million. These figures suggest strong early interest and adoption from users looking to leverage their ADA and LTC in DeFi protocols.

In comparison, XRP and DOGE have supplies of $9.8 million and $2.3 million, respectively. Coinbase’s Wrapped Bitcoin (BTC) remains the largest, with a circulating supply of $4.9 billion—demonstrating a clear appetite among users for tokenized versions of established crypto assets.

Base Emerges as a DeFi Powerhouse

Coinbase’s Base network continues to dominate the Layer 2 landscape. According to The Block’s analytics dashboard, Base currently leads in daily average transaction count with 9.4 million transactions, and maintains over 2 million active addresses—outpacing competitors such as Optimism and Arbitrum.

The success of Base can be attributed in part to Coinbase’s commitment to expanding asset support and providing seamless on- and off-ramp options for users. By adding more wrapped tokens, Base is becoming a more inclusive DeFi environment, one where users of legacy cryptocurrencies like ADA and LTC can access the latest decentralized financial tools without needing to leave the Ethereum ecosystem.

What’s Next for Wrapped Tokens?

As Coinbase continues to expand its wrapped token offerings, the move reflects a larger trend toward cross-chain interoperability and user accessibility. With more cryptocurrencies gaining access to Ethereum’s App landscape through wrapped representations, the boundaries between networks are blurring—and that could mean broader participation and liquidity across the crypto space.

Looking ahead, it wouldn’t be surprising to see additional wrapped tokens introduced on Base, especially from other high-cap altcoins. For now, ADA and LTC offer a new path forward for Cardano and Litecoin holders, allowing them to do more with their tokens while staying securely within the Coinbase ecosystem.