Coinbase Wrapped XRP Expands DeFi Utility Through Doppler Finance on Base

Doppler Finance is expanding to Base, bringing new financial infrastructure for Coinbase Wrapped XRP, which is backed by more than $113 million in XRP reserves. The phased deployment is intended to expand lending and collateral opportunities while positioning tokenized assets for wider institutional use.

The announcement outlines the phased deployment as one of the first steps in the protocol’s broader multichain strategy, enabling tokenized assets to gain institutional-grade onchain utility through lending, borrowing, collateral, and other decentralized financial applications.

Doppler Finance stated:

“Initially, the expansion will focus on supporting cbXRP, with additional support for tokenized assets planned as the Base ecosystem continues to grow.”

Rather than limiting XRP-related financial activity to its native blockchain, the integration places a wrapped representation of XRP inside Base’s decentralized finance ecosystem. Crypto exchange Coinbase (Nasdaq: COIN) issues cbXRP as a token backed one-for-one by XRP, allowing holders to interact with Base applications while maintaining exposure to the underlying digital asset.

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.

The cbXRP integration arrives as Coinbase broadens Base into an ecosystem supporting payments, lending, borrowing, tokenized investments, and decentralized financial services. Expanding infrastructure around wrapped assets allows users to move beyond simple transfers and access a wider range of financial applications built on Ethereum-compatible networks.

Base Head of Growth Antonio Garcia-Martinez noted: “The next wave of onchain finance is about making tokenized assets productive in novel ways. Once an asset is onchain, it becomes usable as collateral, lendable, borrowable.” The executive added:

“We’re excited about this new utility on Base and cbXRP is a compelling early use case.”

Coinbase Wrapped XRP represents one of the earliest examples of that model expanding beyond the XRP Ledger.

Doppler’s expansion arrives as XRP-related infrastructure continues advancing across both the XRP Ledger and connected blockchain ecosystems. Native XRP supports settlement and payments on its original network, while cbXRP extends comparable value into Ethereum-compatible decentralized finance applications operating on Base.

Future phases of Doppler’s Base deployment will introduce support for additional tokenized assets issued across emerging tokenization platforms, extending the protocol’s multichain infrastructure beyond Coinbase Wrapped XRP as digital capital markets continue expanding.