Base Expands Wrapped Asset Library with cbHYPE and cbZEC Tokens

Base, a financial institution that allows users to access decentralized finance (DeFi) protocols through its platform, has just introduced two new tokens to its growing roster of wrapped assets. The cbHYPE and cbZEC tokens are backed by Coinbase custody and represent the HYPE token from Hyperliquid and Zcash's ZEC respectively. This move is part of a larger strategy employed by Coinbase since it launched cbBTC back in September 2024.

The process is straightforward: for every cbHYPE or cbZEC token on Base, there is a corresponding HYPE or ZEC token locked in Coinbase's custody infrastructure. Holders can use these tokens across Base's DeFi ecosystem, which includes trading on decentralized exchanges and supplying liquidity to lending platforms.

This development builds on Coinbase's efforts to expand its library of wrapped assets on Base. cbBTC was the first, followed by cbADA for Cardano's ADA and cbLTC for Litecoin in mid-2025. Each token follows the same formula: Coinbase custody backs a 1:1 representation on Base, giving the asset a second life inside DeFi protocols.

The significance of these wrapped assets lies in their ability to deepen Base's advantage from its direct pipeline to Coinbase's user base. Every cbToken serves as an onramp that keeps users within the Coinbase ecosystem while providing access to DeFi yields and trading opportunities. Additionally, 24/7 trading availability through onchain markets is a genuine selling point compared to centralized exchange hours for certain asset pairs.