In XRP news today, Coinbase Wrapped XRP (cbXRP) just became significantly more useful. Doppler Finance, an institutional-grade yield infrastructure protocol, has expanded to Base, Coinbase’s Ethereum Layer-2 chain, with cbXRP as its first supported asset.
XRP holders who have been sitting on the sidelines of EVM-compatible DeFi now have a regulated, exchange-backed route into lending, borrowing, and collateral strategies.
This news dropped as the XRP price dropped -1.2% overnight, falling to $1.08 after losing support at $1.10. This marks a -5.4% move over the past seven days. Daily trading volume on XRP USD sits at $1.16Bn, up from $1.05Bn yesterday.
Doppler is expanding to Base.
Starting with infrastructure for cbXRP and paving the way for more tokenized assets over time.
We’re bringing institutional-grade infrastructure for tokenized capital markets to Base.
Excited to build on @base. pic.twitter.com/xyPWGj3Fwe
— Doppler Finance (@doppler_fi) July 29, 2026
Doppler Finance was originally built on the XRP Ledger (XRPL), XRP’s native, non-EVM blockchain, to serve institutional participants. Its expansion to Base marks the first time its infrastructure is available to the broader Base DeFi ecosystem, starting with cbXRP support and with additional tokenized assets planned in later phases.
The practical impact is concrete. cbXRP holders can now deposit their tokens into lending markets to earn interest, use cbXRP as collateral to borrow stablecoins or other crypto assets, provide liquidity in decentralized exchange pools, and participate in yield farming strategies, all on Base.
Antonio Garcia-Martinez, Head of Growth at Base, described the broader ambition: once an asset is onchain, it becomes usable as collateral, lendable, and borrowable in ways that were not possible in its native form.
Doppler Finance Head of Institutions Rox Park framed the expansion as a structural shift, noting that the next phase of tokenized finance requires infrastructure that extends beyond any single blockchain.
XRP operates on its own non-EVM-compatible blockchain, the XRP Ledger, meaning it cannot directly interface with Ethereum’s DeFi protocols.
To address this, cbXRP allows users to convert XRP from their Coinbase account into an ERC-20 token on Base, where Coinbase locks the XRP and issues cbXRP at a 1:1 ratio. Essentially, cbXRP acts as a travel adapter for the DeFi ecosystem on Base.
Coinbase maintains a live proof-of-reserves dashboard, showing real-time updates on reserve addresses and balances. As of late July 2026, around 105.64 million cbXRP are in circulation, fully backed by XRP in Coinbase custody, representing over $113M in reserves.
Note that this is a custodial model controlled by Coinbase, which involves centralized custody risks. Users should verify the official Base contract address (0xcb585250f852C6c6bf90434AB21A00f02833a4af) to avoid fake cbXRP tokens that have appeared on other networks.
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Coinbase launched cbXRP on Base on June 5, 2025, alongside Coinbase Wrapped DOGE (cbDOGE), with initial issuance of roughly 2.3 million cbXRP.
The token’s first major DeFi integration came via Moonwell, a lending protocol on Base, which grew to $1.2M in cbXRP liquidity, a proof-of-concept that exchange-backed wrapped assets could attract DeFi capital. The Doppler Finance expansion represents the next leg of that buildout, targeting more sophisticated institutional-grade use cases.
Coinbase has been positioning Base as a multi-asset financial platform, adding tokenized stocks, perpetual derivatives, stablecoin payment rails, and AI-powered financial tooling alongside these wrapped asset integrations. cbXRP sits within that broader strategy.
Making major non-EVM assets natively productive on Base rather than leaving holders dependent on third-party bridges. For XRP price context and institutional accumulation trends feeding demand for these products, the institutional accumulation picture is worth understanding alongside the DeFi utility expansion.
Doppler has indicated that cbXRP is the first, not the last, asset in its Base rollout, with support for additional tokenized assets coming as the ecosystem matures.
The question now is how quickly XRP DeFi activity on Base, lending volumes, collateral utilization, and DEX liquidity depth scale to match the infrastructure being put in place.
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The post Doppler Finance Brings Institutional DeFi to cbXRP on Base appeared first on 99Bitcoins.
