Good news for XRP and Doge? Coinbase reveals versions wrapped on the basic network

The largest American encryption exchange, Coinbase, launched wrapped versions of XRP and Dogecoin on the Layer-2 network based on ETHEREUM.

According to a series of Tweets From the Coinbase Assets X account, the Crypto 1: 1 exchange maintains the basic assets of CBXRP and CBDOGE in its reservation.

CBXRP, CBDOGE Go Live on the base

The launch of the XRP and DOGE icons enabled the functions of the crossed chain of assets. The market participants can now use CBXRP and CBDOGE to interact with the basic network applications.

To date, at Coinbase Release 10.4 million CBDOGE worth about 1.88 million dollars per price of Dogecoin at the time of writing this report. The stock exchange also Release At least 2.3 million CBXRP at a value of more than $ 5 million. To prevent fraudsters from misleading users, Coinbase has provided the headquarters of CBXRP and CBDOGE.

Join CBXRP and CBDOGE to the growing menu of assets wrapped over the basic network. Coinbase has already released Bitcoin (CBBTC) and CBTH. The company plans to launch similar versions for Cardano (ADA) and Litecoin (LTC) in the coming weeks.

Coinbase wins and challenges

Since last year, the stock exchange has expanded its market for wrapped symbols, especially after the successful CBTC launch. The product started live on the base and Ethereum in mid -September 2024, becoming the third largest bitcoin version wrapped in a week. I maintained this position with a market capital of at least $ 4.7 billion, according to data from Coingecko, late behind the Brain’s Praped BTC (BTCB) and BITGO, WBTC.

This last landmark comes shortly after Coinbase joined the S& P 500, which represents the first time that the Checks Company has achieved this discrimination. The company recently concluded an agreement to obtain Deribit, the largest encryption derivative platform, for $ 2.9 billion.

While Crypto Exchange scores a new victory, it also addresses some challenges. Coinbase faced a huge data breach of the effect of at least 69,000 users. This incident is not limited to hacking user and infrastructure data to support Coinbase, but also led to a loss of $ 400 million. While the company is trying to deal with the situation, it has been severely scrutinized for its failure to reveal the electronic attack when it was first noticed.