Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Coinbase has introduced its version of wrapped bitcoin, cbBTC, on the Ethereum and Base networks, allowing users to use bitcoin in DeFi applications.
This launch follows Coinbase's hint at entering the wrapped bitcoin market and challenging the existing leader, BitGo's WBTC, with plans to foster a significant bitcoin economy on Base.offered by Coinbase has gone live on the Ethereum and Base networks. The crypto exchange is entering a market whose biggest player is backed by over $8 billion worth of the asset.
Several DeFi services are expected to offer support for cbBTC from Thursday, Coinbase said, including exchanges Aerodrome and Curve, lending applications Aave, Sky Protocol, Compound, real-world assets provider Maple and cross-chain bridges such as deBridge, among others.
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