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News - Is Coinbase bringing cbBTC to Solana?
The Wrapped-Bitcoin derivative cbBTC could soon be launched on Solana. Coinbase announced this during the Token2049 conference.
The Bitcoin-derivative cbBTC would soon go to the Solana-blockchain can come.
The Singapore director of Coinbase, Hassan Ahmed, announced at the Breakpoint 2024 event, held during Token2049, that Coinbase wants to expand with cbBTC.
Bitcoin 🤝 Solana
— Solana (@solana) September 21, 2024
Just in from Breakpoint: @Hassan_NY announced that @coinbase plans to bring cbBTC to Solana! pic.twitter.com/e1UdoUDgbY
So far, cbBTC is only available on Ethereum and Base.
cbBTC has been available since Sept. 12. The token is a so-called Wrapped Bitcoin, which is a BTC derivative backed one-to-one by BTC.
BTC are stored in Coinbase's wallets.
cbBTC allows Bitcoin investors to participate in DeFi applications on Ethereum and Base without having to sell their Bitcoin.
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