Onchain wrapped Cardano (cbADA) and wrapped Litecoin (cbLTC) tokens sent to Coinbase are redeemed at a 1:1 ratio and converted to Cardano (ADA) and Litecoin (LTC) respectively.
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Conversely, when users send onchain cbADA and cbLTC to their Coinbase accounts, it is converted back at a 1:1 ratio.
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How coinbase wrapped tokens work
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