  We study continuous-variable entanglement of bright quantum states in a pair
of evanescently coupled nonlinear $\chi^{(2)}$ waveguides operating in the
regime of degenerate down-conversion. We consider the case where only the
energy of the nonlinearly generated fields is exchanged between the waveguides
while the pump fields stay independently guided in each original waveguide. We
show that this device, when operated in the depletion regime, entangles the two
non-interacting bright pump modes due to a nonlinear cascade effect. It is also
shown that two-colour quadripartite entanglement can be produced when certain
system parameters are appropriately set. This device works in the
traveling-wave configuration, such that the generated quantum light shows a
broad spectrum. The proposed device can be easily realized with current
technology and therefore stands as a good candidate for a source of bipartite
or multipartite entangled states for the emerging field of optical
continuous-variable quantum information processing.
