Coinbase Unveils Wrapped Bitcoin cbBTC With Solana DeFi Integrations

Coinbase, the largest cryptocurrency exchange in the U.S., has announced the release of its wrapped Bitcoin token, cbBTC, on the Solana blockchain. The token is designed to be an SPL asset pegged one-to-one with Bitcoin for reliable value preservation. By the time of writing, Coinbase had already minted approximately 135 cbBTC and had deployed it in order to kickstart the project’s presence on Solana's network. This development places cbBTC from Coinbase in an already growing list of Threshold's tBTC, Zeus Network's zBTC, and Wormhole's WBTC—creating wider options for users to seek Bitcoin's utilization in DeFi applications.

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