The phased rollout starts with cbXRP, a Coinbase-issued token backed 1:1 by XRP, and is intended to expand lending, borrowing and collateral use on Base before later adding other tokenized assets.
Doppler Finance said on July 29 that it is expanding its institutional-grade yield infrastructure from the XRP Ledger to Base, starting with Coinbase Wrapped XRP, or cbXRP, as part of a broader multichain strategy. The phased deployment is designed to give tokenized assets more onchain utility through lending, borrowing, collateral and other decentralized finance applications on Base. Coinbase issues cbXRP as a token backed one-for-one by XRP, allowing holders to access Base-based applications while maintaining exposure to the underlying asset. Coinbase reserve data on July 29 showed about 105.64 million XRP backing nearly 105.64 million cbXRP in circulation, with a public dashboard tracking reserves, token supply and network information. Doppler said the initial expansion will focus on cbXRP, with support for additional tokenized assets planned later. The move comes as Base broadens its push into payments, lending, borrowing, tokenized investments and other onchain financial services, creating more ways for wrapped assets to be used beyond transfers alone.