Coinbase Wrapped ADA Opens Solana Trading Through Chainlink CCIP

Coinbase Wrapped ADA became available on Solana on September 28 through Sunrise and Chainlink’s Cross-Chain Interoperability Protocol, or CCIP. The launch gives Solana wallets and DeFi applications access to a Coinbase-backed representation of Cardano’s native asset.

Raydium and Launchpads Add cbADA Markets

Raydium opened trading shortly after Sunrise announced the listing. Pump.fun and StonkFun also enabled cbADA as a base asset, allowing newly launched tokens to form trading pairs against it. Pump.fun added an option for those tokens to distribute holder rewards in cbADA.

Sunrise published the following official Solana mint address:

cbADAmv9issuPfhFwyQG3xac4DGPd1LDSt1oz7vwJsg

Other tokens using the name “Coinbase Wrapped ADA” appeared around the launch. Their names and ticker symbols alone do not identify them as the asset listed by Sunrise.

Coinbase Custody Backs the Wrapped ADA

Coinbase says each cbADA is backed 1:1 by ADA held in its custody and publishes reserve and supply figures for the token. cbADA was already available on Base.

Chainlink CCIP provides the cross-chain infrastructure for its expansion to Solana, following Coinbase’s December 2025 decision to use CCIP for its wrapped asset range.

This structure gives Solana users a way to trade ADA exposure in their existing applications. A swap of cbADA on Raydium takes place on Solana; it is not a Cardano transaction. Trading an existing supply of wrapped tokens also does not establish that Coinbase has bought additional ADA for its reserves.

Coinbase Deposit Support Remains Limited to Base

Coinbase says supported wrapped assets are converted to their underlying cryptocurrency when deposited to a customer account through an eligible network. Its current documentation lists Base as a supported network for cbADA but does not list Solana. A direct Coinbase deposit route for Solana-based cbADA is therefore not documented.

The launch has already opened a Raydium market and new launchpad pairs for an ADA-backed token. Those swaps and token launches settle on Solana, while the ADA backing cbADA remains in Coinbase custody.