Coinbase has launched Coinbased Wrapped BTC (cbBTC), an ERC20 token backed 1:1 by BTC held on Coinbase. This allows Bitcoin holders to use their BTC in DeFi apps across multiple blockch
ains without having to trade or sell their assets. Initially available on Ethereum Mainnet and Base L2 network, plans are to expand to more chains, increasing Bitcoin’s utility in DeFi.
