Crypto -Dealers holding XRP
And Dogecoin can now take advantage of the possibilities of dividend-generating decentralized funding (DEFI) on the base, Layer-2 blockchain from Digital Assets Exchange Coinbase (Coin).
On Wednesday, the Nasdaq-listed exchange said the wrapped versions of the two tokens, called CBXRP and CBDOGE, were live on the base. These wrapped tokens are supported 1: 1 by native coins, which means that for all CBXRP and CBDOGE in circulation there is a similar amount of XRP or Dogecoin held in a secure custody resolution of coinbase.
Packed tokens represents the original assets in environments where they are otherwise not available, offering compatibility with Base’s protocol and defi applications. This facilitates interoperability, which allows for the seamless transfer of coins within the ecosystem, while the holders can utilize defi and generate further returns on the top of their spot market holdings.
The wrapped version of XRP has achieved a market share of over $ 5 million within the first 24 hours, according to Data Source Basescan. Wrapped Dog’s market capital is approaching the mark of $ 2 million.
XRP is a payment -focused cryptocurrency used by Ripple to facilitate cross -border transactions and has a market capital of $ 128.8 billion, making it the fourth largest cryptocurrency. Dogecoin, with a market value of $ 28.2 billion, is the world’s leading meme token by market value, Coindesk data shows.
Coinbase debuted a wrapped version of Bitcoin
The largest cryptocurrency, on the base last September. It has reached a market capital of over $ 4.7 billion.
