Coinbase Launches Wrapped Bitcoin (cbBTC) on Ethereum and Base Networks
Thursday, 12 September 2024, 05:19
Coinbase's Wrapped Bitcoin (cbBTC) Launch
Coinbase has introduced Wrapped Bitcoin (cbBTC), enabling Bitcoin to integrate seamlessly with Ethereum and Coinbase's Base networks. This innovative move aims to enhance the utility of Bitcoin by allowing it to be utilized in various DeFi applications, thus increasing its overall adoption.
Expandability of cbBTC
- Initial launch on Ethereum and Coinbase's Base.
- Plans to extend to multiple blockchains in the upcoming months.
- Enhances cross-chain interactions, improving liquidity.
As cbBTC gains traction, it could pave the way for greater acceptance of Bitcoin within the wider cryptocurrency landscape, turning it into a more versatile asset across various platforms.
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