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      Base Introduces cbHYPE and cbZEC Tokens Backed by Coinbase Custody

      Base has launched two new tokens, cbHYPE and cbZEC, which are backed 1:1 by their respective underlying assets, Hyperliquid’s HYPE token and Zcash’s ZEC. These tokens are part of Coinbase's layer-2 network strategy to expand its offerings of wrapped assets, following the introduction of cbBTC in September 2024.

      The new tokens are designed to enhance user engagement within Base's decentralized finance (DeFi) ecosystem. Each cbHYPE and cbZEC token corresponds to a locked HYPE or ZEC token in Coinbase's custody, allowing holders to trade, supply liquidity, and participate in yield strategies across various DeFi platforms. Additionally, users can easily convert these tokens back to their native forms through Coinbase.

      Coinbase's strategy of creating wrapped assets aims to leverage its existing user base by providing seamless access to DeFi opportunities. This approach not only facilitates continuous trading but also positions Base competitively against traditional centralized exchanges, which have limited trading hours. However, details regarding supply figures and trading volumes for the newly launched tokens have not yet been disclosed, indicating that the rollout is still in its early stages.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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