What is Coinbase Wrapped LTC (CBLTC)?
Coinbase Wrapped LTC ("cbLTC") is a token that is backed 1:1 by native Litecoin (LTC) held by Coinbase, meaning that for all cbLTC in circulation, there is an equivalent amount of LTC held in a secure custody solution (including cold storage) provided by Coinbase. Wrapped assets, like cbLTC, are transferable tokens that are redeemable for the underlying asset. Coinbase customers can unwrap cbLTC and redeem a corresponding amount of the underlying LTC simply by depositing the cbLTC into their Coinbase accounts.
How does Coinbase Wrapped LTC work?
cbLTC is built to be seamlessly compatible with DeFi applications, giving customers the option to tap into DeFi and unlock financial utility. cbLTC removes a key point of friction by allowing customers to use Litecoin they already hold in new ways onchain. cbLTC is built to be seamlessly compatible with DeFi applications, so users can now tap into novel DeFi use cases like providing their LTC as liquidity to DeFi protocols, using it as collateral to borrow other crypto assets, or spending it as a payment method.
What is Coinbase Wrapped LTC used for?
Wrapped assets like cbLTC are a mature concept in the crypto world, helping to bring more liquid assets onchain and facilitate an expansive financial ecosystem.
Where can you buy Coinbase Wrapped LTC?
Coinbase Wrapped LTC (CBLTC) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for CBLTC sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
You can open the Markets section above to see the live list of exchanges quoting CBLTC, sorted by 24-hour volume. Each row links to the venue's trade page so you can go directly from research to execution without copying the ticker around by hand.