Bitcoin has surged over 5% since Wednesday, but volatility and uncertainty have clouded the past few weeks. However, a significant announcement from Coinbase is bringing fresh optimism for BTC holders eager to explore DeFi opportunities.
As of yesterday, Coinbase launched Coinbase Wrapped BTC (cbBTC), an ERC20 token backed 1:1 by Bitcoin (BTC) held by Coinbase. Initially, cbBTC will be supported on Base and Ethereum, with plans to expand to more chains.
This move allows Bitcoin holders to unlock new ways to engage with decentralized finance (DeFi), providing greater flexibility in using their BTC across multiple platforms.
Coinbase’s introduction of cbBTC marks another step forward in increasing economic freedom in the crypto space. BTC users now have more opportunities to leverage their assets while staying connected to DeFi’s growing ecosystem.
Bitcoin Is Now Available On Base
Coinbase is taking a groundbreaking step…
