For each supported asset, Coinbase holds the native asset in custody and mints the matching cb-token, so the asset can be held and used in onchain applications. Today the program covers cbBTC on Ethereum, Base, Arbitrum and Solana, and cbXRP, cbADA, cbDOGE, cbLTC, cbHYPE, cbMEGA and cbZEC on Base.

Coinbase Wrapped Assets groups every cb-token Coinbase issues natively. The project reports the combined value of that supply. It is not a single token, and it does not track the price of any one wrapped asset.

Coinbase Wrapped Assets is Coinbase's custody program for wrapping other crypto assets. Coinbase holds the underlying asset and issues a 1:1 cb-token for it onchain.