Coinbase to Roll Out cbBTC, Expanding Bitcoin Ecosystem

Coinbase, the leading cryptocurrency exchange in the US, has unveiled its latest initiative: Coinbase Wrapped BTC (cbBTC).

Coinbase is set to broaden its role in the Bitcoin ecosystem with the introduction of cbBTC, which could rival Wrapped Bitcoin (WBTC).

Jesse Pollak, who leads Coinbase and its layer 2 network Base, announced cbBTC via their official X account. He also mentioned plans to develop a significant Bitcoin economy within the Base network.

The new cbBTC will enable Bitcoin holders to engage with decentralized finance (DeFi) applications on Base, offering lower fees and improved efficiency.

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This announcement follows recent news about Tron (TRX) founder Justin Sun’s involvement with the WBTC token. BitGo has revealed plans to transfer control of WBTC to a new venture involving Hong Kong-based investment manager BiT Global and Sun’s Tron ecosystem.

Wrapped Bitcoin (WBTC) is a Bitcoin token that operates on the Ethereum blockchain and adheres to the ERC 20 standard.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.