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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.
XRP News: What Doppler Finance Is Unlocking for cbXRP
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.
What cbXRP Actually Is and Why It Works on Base
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.
Source: finance.yahoo.com