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      Coinbase Introduces cbMEGA Wrapped Asset on Base Network

      Coinbase has launched cbMEGA, a new wrapped token on its Base Layer 2 network, which went live on April 30. This ERC-20 token is backed 1:1 by MegaETH (MEGA) held in Coinbase custody, providing MEGA holders with an efficient entry point into decentralized finance (DeFi) within the Base ecosystem. cbMEGA joins a lineup of other wrapped assets from Coinbase, including cbBTC, cbETH, cbXRP, cbDOGE, cbADA, and cbLTC.

      Users can convert their eligible MEGA tokens to cbMEGA at a 1:1 ratio by sending them to Base, and they can easily unwrap cbMEGA to retrieve their original MEGA tokens, which remain in Coinbase custody throughout the process. The contract address for cbMEGA on Base is 0xcb111E6A2a3bde90856D299d61341ac302167D23, allowing users to verify before engaging with the token.

      Upon its launch, cbMEGA was integrated with several DeFi platforms on Base, including Aerodrome, 1inch, CoW Swap, and Rainbow wallet. The circulating supply of cbMEGA is estimated to be between 17 million and 26 million tokens, with a market capitalization ranging from $650,000 to $850,000, primarily traded on decentralized exchanges like Aerodrome. This launch is part of Coinbase's broader strategy to provide popular tokens with DeFi utility on its Base network.

      © 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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