Coinbase has announced that its cbBTC has been listed on the Solana network, making it the first token issued by Coinbase on Solana. This move is significant because it brings Bitcoin to a new layer-one blockchain, offering faster transactions and lower fees. The cbBTC on the Solana network is an SPL token backed by Bitcoin (BTC) hosted by Coinbase at a 1:1 ratio.
This is great news for cryptocurrency enthusiasts, who can now enjoy the benefits of Bitcoin while also taking advantage of the speed and efficiency of the Solana network.
