Wrapped tokens cbADA and cbLTC, launched by Coinbase, are fully backed at a 1:1 ratio by ADA and LTC held in custody by Coinbase, ensuring asset parity and trust.

Quotes that support claims

The exchange rolled out ERC-20 versions of ADA and LTC that are backed on a 1:1 basis, enabling Cardano and Litecoin holders to tap into Ethereum-style DeFi via its Base network.

The ERC-20 tokens, cbADA and cbLTC, are each backed 1:1 by ADA and LTC held in custody by Coinbase, the crypto exchange said in a Wednesday announcement, providing proof of reserves for both assets.