Coinbase, the largest cryptocurrency exchange in the United States, has announced the upcoming launch of four new tokens for popular altcoins.
Launch of New Tokens
The exchange announced the upcoming launch of cbADA, cbDOGE, cbLTC, and cbXRP, which are bridged versions of Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP) for the Base network.
Tokens and Their Functions
The tokens cbADA, cbDOGE, cbLTC, and cbXRP will be locked with smart contracts and re-minted on the Base network, thus representing the original cryptocurrencies on this network. They can be unlocked through smart contracts and returned to their original networks.
Warnings and Release Information
Coinbase officials warned that the tokens have not been released yet and advised followers to stay tuned for a launch date. They also cautioned against fake cryptocurrencies claiming to be these tokens.
Coinbase continues to expand its offerings in the cryptocurrency market by adding new tokens for Base network users, while emphasizing the importance of security in this space.
