Coinbase has added two new packaged to his basic network and its line-up of ERC-20 assets extended with CBDOGE and CBXRP, announced the stock market through its official X account on 5 June.
The tokens are supported 1: 1 by Dogecoin (Doge) and XRP, respectively and are held in cobetus by Coinbase. In his announcement afterrepeated the crypto exchange that these packed tokens work under a fully collateral model and intended to improve an onchain and offchain activa movement.
According to Coinbase, users can transfer DOGE and XRP from their Coinbase accounts to the basic network, where they are automatically converted into CBDOGE and CBXRP on a 1: 1 -based. The assets are then available on the base as ERC-20 tokens.
These conversions can help customers take advantage of Ethereum-compatible Decentralized Finance (DEFI) Opportunities with the support of the custody of Coinbase’s institutional quality.
CBBTC adoption opens the door for more packed assets
The Coinbase website places the total reserve for CBDOGE at 10,404,409.79 Doge, while the total circulating stock is 10,400,102.5 tokens.
In a follow-up X-message, the company provided smart contract addresses for CBDOGE and CBXRP based on the identification of authentic versions of the assets. ‘There may be fraudulent actors who occur as CBDOGE and CBXRP,“It warned users.
The tokenized assets from Coinbase launch over blockchain ecosystems began with CBBTC, a packed version of Bitcoin, based on base after custody model changes by Bitgo, the emitting of the commonly used WBTC. In response, Coinbase CBBTC introduced on September 12, 2024 to give users an alternative way to get BTC-Bootstelling to chain.
Since the release, the total stock of CBBTC token has surpassed 45,000, which corresponds to more than $ 4 billion in value, with the majority of it circulating on Ethereum and the basic network. The success of the token encouraged Coinbase to keep investing in packed assets that integrate with the basics.
Base Network sees an increase in users and the Stabilecoin volume
Base, the Ethereum Layer 2 -scale network developed by Coinbase, is currently the Top L2 Due to total value locked (TVL), that is around $ 14.4 billion. According to Blockchain Analytics firm token Terminal, the base alone registered in the first quarter of 2025 more than $ 3.6 trillion in the stabile transaction volume.
The user base has doubled For a period of three months, from 450,000 in Q4 2024 to more than 900,000 in Q1 2025, which underlines the growing role of the network in the crypto economy.
There are also plans to increase gas outlet from the current 25 million gas per second to 50 million in the second quarter of 2025, with a long -term objective to reach 250 million gas per second by the end of the year. This would be a 100-time increase compared to the initial capacity of the network.
Virtune gives an overview of ETP Tracking Coinbase 50 Index on Xetra
In other news, the Swedish asset manager Virtune announced the launch of a new exchange -bound product (ETP) on the Xetra platform of Deutsche Börse, following the Coinbase 50 Europe Index. It is the first time that an ETP is linked to the index on a large European exchange.
The Coinbase 50 Europe Index follows a maximum of 50 leading crypto assets and is designed to offer a benchmark for exposure to digital assets. During the launch, the ETP offers access to 21 cryptos, including Bitcoin, Ethereum, XRP and Solana. Trading under the tickers VRTC on Xetra and VCOIN50 on Bloomberg, the physically supported ETP offers a re -balanced portfolio with custodial regulations for institutional quality.
Coinbase is the official custodian of the ETP, while Market vector, a European index manager, supervises the index.