The B20 tokens represent Hyperliquid's HYPE and Zcash's ZEC, expanding Coinbase's custody-backed wrapped-asset program and multi-chain support on Base.
cbHYPE and cbZEC are now live on Base as B20-standard tokens backed one-for-one by HYPE and ZEC held in Coinbase custody. cbHYPE represents HYPE, the native token of the Hyperliquid derivatives exchange, while cbZEC is a bridged representation of Zcash's privacy-focused cryptocurrency. The launch extends Coinbase's wrapped-asset strategy, which began with cbBTC in September 2024 and later added cbADA and cbLTC. Base users can trade the tokens, use them in decentralized applications, and access DeFi services such as decentralized exchanges, lending platforms and yield strategies without manually bridging the native assets first. Coinbase said the rollout supports broader multi-chain interoperability and could bring additional liquidity and users into Base, an Ethereum Virtual Machine-compatible Layer-2 network launched in 2023. The rollout included no supply, trading-volume or specific protocol-integration figures, indicating that the initiative remains at an early stage.