Coinbase Launches 'cbBTC': A New Wrapped Bitcoin on Ethereum

Thursday, 12 September 2024, 04:00

Coinbase has introduced cbBTC, a wrapped version of Bitcoin (BTC), enabling users to leverage Bitcoin’s value on Ethereum. This innovative asset aims to enhance liquidity and accessibility within the crypto space. The launch is part of Coinbase's ongoing efforts to broaden its offerings.
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Coinbase Launches 'cbBTC': A New Wrapped Bitcoin on Ethereum

Coinbase Unveils cbBTC Token

Coinbase has launched cbBTC, a new wrapped version of Bitcoin (BTC), on the Ethereum network and its layer-2 scaling solution, Base. This token allows Bitcoin holders to benefit from Ethereum's functionalities and decentralized applications. With this move, Coinbase aims to increase liquidity and enhance accessibility for users seeking to engage with the growing DeFi ecosystem.

Significance of cbBTC

The introduction of cbBTC represents a strategic shift in how Bitcoin can be utilized across different blockchains. By bridging Bitcoin with Ethereum, Coinbase is setting the stage for further innovation and fostering a more interconnected crypto market.

Future Implications

As more users adopt wrapped assets like cbBTC, the potential for enhanced trading strategies and investment opportunities will likely expand. Keep an eye on Coinbase’s developments as they continue to advance their platform and the broader cryptocurrency landscape.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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