Coinbase has introduced a new token, cbLTC, a wrapped version of Litecoin available on its Base platform powered by Ethereum.
Launch of cbLTC on the Ethereum Platform
Coinbase has launched cbLTC, a wrapped version of Litecoin, on its Layer-2 solution Base, which is built on Ethereum. This ERC-20 token is backed 1:1 by real LTC held in custody by Coinbase.
Accessibility and Management of cbLTC
As of June 26, 2025, Coinbase's platform held 11,364 LTC backing 11,305 cbLTC tokens. These tokens enable users to move their Litecoin as ERC-20 tokens without the need for third-party bridges or external custodians.
Prospects for Utilizing cbLTC in DeFi
With the release of cbLTC on the platform, users can utilize their Litecoin in DeFi, such as providing liquidity on Uniswap or Aerodrome, and earning yields on PancakeSwap. Litecoin previously had limited significance in DeFi, but cbLTC changes that.
With the launch of cbLTC and cbADA, Coinbase is offering users new opportunities for participating in DeFi, which may significantly enhance the application of Litecoin and other tokens on the Base platform.
