Coinbase Unveils Wrapped Bitcoin cbBTC With Solana DeFi Integrations
Coinbase, the biggest cryptocurrency alternate within the U.S., has introduced the discharge 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 dependable worth preservation. By the point of writing, Coinbase had already minted roughly 135 cbBTC (valued at about $10 million) and had deployed it in an effort to kickstart the mission’s presence on Solana’s community.
Main Solana-based platforms together with Jupiter, Meteora, Kamino Finance, Raydium, Phoenix, Jito and Drift have already built-in cbBTC into their providers. Amongst these, Kamino Finance has famous bold plans to make it one of many greatest venues of cbBTC transactions in your complete DeFi house.
This growth locations cbBTC from Coinbase in an already rising record of Threshold’s tBTC, Zeus Community’s zBTC, and Wormhole’s WBTC—creating wider choices for customers to hunt Bitcoin’s utilization in DeFi purposes.
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