In this paper, we propose a construction of a new cubic spline-wavelet basis on the hypercube satisfying homogeneous Dirichlet boundary conditions. Wavelets have two vanishing moments. Stiffness matrices arising from discretization of elliptic problems using a constructed wavelet basis have uniformly bounded condition numbers and we show that these condition numbers are small. We present quantitative properties of the constructed basis and we provide a numerical example to show the efficiency of the Galerkin method using the constructed basis.