Coinbase New Wrapped Bitcoin (cbBTC) Coming to Solana, Says Crypto Exchange’s Executive
Top US-based crypto exchange Coinbase says its wrapped version of Bitcoin (BTC) is coming to the smart contract platform Solana (SOL). In a session during the Solana Breakpoint 2024 event, Coinbase executive Hasan Ahmed says the crypto exchange is introducing Coinbase Wrapped Bitcoin (cbBTC) to the Ethereum (ETH) competitor’s blockchain. “We recently launched cbBTC on Base, but our users love Solana and so do we, so we are very excited to announce that we will be bringing native cbBTC to Solana as well.” Base is Coinbase’s Ethereum layer-2 solution designed to allow developers to build applications without getting bogged down by high gas fees. Earlier this month, Coinbase launched cbBTC, an Ethereum-based token backed by Bitcoin that gives BTC holders access to decentralized finance (DeFi) protocols via the Base and Ethereum blockchains. “cbBTC is built to be seamlessly compatible with DeFi applications, so users can now tap into n...