Coinbase Launches cbBTC: Bridging Bitcoin to Base Network
CryptoNewsTerminal Staff12 Sep, 2024
Coinbase Launches cbBTC: Bridging Bitcoin to Base Network
Coinbase, a leading cryptocurrency exchange, has launched cbBTC, a wrapped Bitcoin (BTC) on the Base chain developed by Coinbase. This move aims to bridge the gap between Bitcoin and the Base ecosystem, enabling users to access Bitcoin's liquidity and security within the Base network. cbBTC is designed to be pegged 1:1 with BTC held by Coinbase, providing a seamless experience for users to transact with Bitcoin on the Base chain. This integration opens up new possibilities for developing decentralized applications and exploring novel use cases within the Base ecosystem. By leveraging the Base chain's scalability and low transaction fees, developers and users can benefit from an enhanced Bitcoin experience.
