Coinbase Launches cbBTC: A Revolutionary Wrapped Bitcoin on Ethereum

Thursday, 12 September 2024, 04:00

Coinbase has launched cbBTC, a wrapped Bitcoin (BTC) asset on Ethereum. The introduction of cbBTC opens new avenues for transactions and utility in the crypto space. This development enhances Bitcoin's ecosystem by utilizing Ethereum’s capabilities and Base’s layer-2 scalability.
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Coinbase Launches cbBTC: A Revolutionary Wrapped Bitcoin on Ethereum

Coinbase's Major Move in the Crypto Space

On Sept. 12, 2023, Coinbase made headlines with the introduction of cbBTC, a wrapped version of Bitcoin (BTC) that operates on the Ethereum network and its layer-2 scaling solution, Base. This innovative asset represents a transformative shift, enabling users to leverage BTC in new and dynamic ways.

Enhancing Bitcoin's Potential

With cbBTC, Coinbase aims to enhance Bitcoin’s utility, allowing it to interact seamlessly within the Ethereum ecosystem. As more users embrace wrapped assets, the significance of this launch is expected to resonate throughout the crypto industry.


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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