Coinbase Wrapped BTC, cbBTC now live on Base and Ethereum networks
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This would be the first instance for Coinbase to link deep off-chain Bitcoin liquidity to low-cost, high-speed financial rails on Base and Ethereum.Wrapped assets, such as cbBTC, are projected to contribute to the development of a more efficient, linked and broader financial ecosystem by bringing assets across many chains.
Coinbase's cbBTC aims to increase economic freedom by providing users with more options for using their Bitcoin. There will be no separate order book or trading pair for cbBTC on Coinbase. When Coinbase users transfer BTC from Coinbase to an address on Base or Ethereum, the BTC is automatically converted 1:1 to cbBTC. When consumers receive cbBTC into their Coinbase accounts, it is converted 1:1 to BTC.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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