Coinbase Wrapped XRP (cbXRP) On Base

Coinbase Wrapped XRP Token base Description

Coinbase Wrapped XRP (CBXRP) is a cryptocurrency launched in 2025and operates on the Base platform. Coinbase Wrapped XRP has a current supply of 12,683,048.723098. The last known price of Coinbase Wrapped XRP is 2.87923064 USD and is down -4.27 over the last 24 hours. It is currently trading on 11 active market(s) with $536,080.27 traded over the last 24 hours. More information can be found at https://www.coinbase.com/campaigns/wrapped-assets.

Coinbase Wrapped XRP ("cbXRP") is a token that is backed 1:1 by native Ripple (XRP) held by Coinbase, meaning that for all cbXRP in circulation, there is an equivalent amount of XRP held in a secure custody solution (including cold storage) provided by Coinbase. Wrapped assets, like cbXRP, are transferable tokens that are redeemable for the underlying asset. Coinbase customers can unwrap cbXRP and redeem a corresponding amount of the underlying XRP simply by depositing the cbXRP into their Coinbase accounts. cbXRP is built to be seamlessly compatible with DeFi applications, giving customers the option to tap into DeFi and unlock financial utility. cbXRP removes a key point of friction by allowing customers to use Ripple they already hold in new ways onchain. cbXRP is built to be seamlessly compatible with DeFi applications, so users can now tap into novel DeFi use cases like providing their XRP as liquidity to DeFi protocols, using it as collateral to borrow other crypto assets, or spending it as a payment method. Wrapped assets like cbXRP are a mature concept in the crypto world, helping to bring more liquid assets onchain and facilitate an expansive financial ecosystem.