Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)
Top US-based crypto exchange Coinbase is teasing its new wrapped version of Bitcoin (BTC) to Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB). In a new announcement on the social media platform X, Coinbase Assets tells its audience that Coinbase Wrapped Bitcoin (cbBTC) is “coming soon” to the smart contract platform Arbitrum. Earlier this month, Coinbase announced the launch of cbBTC, a token that would allow holders of the crypto king to access decentralized finance (DeFi) protocols over the Ethereum and Base blockchains. At the time, Coinbase said cbBTC would be compatible with several prominent DeFi platforms, including Aave (AAVE), Curve FInance (CRV), Compound Finance (COMP), Moonwell (WELL), and Maple Finance (MPL). In an accompanying blog post, Coinbase explained how cbBTC would streamline the DeFi experience of BTC holders. “cbBTC removes a key point of friction by allowing customers to use Bitcoin they already hold in new ways on...