Coinbase's Wrapped XRP Expands Utility on Base Through Doppler Finance

Coinbase's Wrapped XRP (cbXRP) is expanding its utility through Doppler Finance on Base, as announced by Doppler on July 29. The integration will enable tokenized assets to gain institutional-grade onchain utility through lending, borrowing, collateral, and other decentralized financial applications.

The phased deployment will start with cbXRP and later extend to other tokenized assets. Doppler's infrastructure is expanding from the XRP Ledger (XRPL) to Base, allowing users to move beyond simple transfers and access a wider range of financial applications built on Ethereum-compatible networks.

According to Coinbase's reserve data, approximately 105.64 million XRP backs nearly 105.64 million cbXRP in circulation. This ensures that every wrapped token remains fully backed by XRP held in custody.

Doppler Finance Head of Institutions Rox Park remarked: 'The next phase of tokenized finance requires infrastructure that extends beyond any single blockchain.'

The rollout will occur in stages, with additional supported assets and platform capabilities scheduled for future releases. This expansion aligns with Coinbase's broader efforts to expand its financial platform through tokenized stocks, perpetual derivatives, AI-powered financial tools, stablecoin payments, and onchain infrastructure.