High US-based crypto trade Coinbase says its wrapped model of Bitcoin (BTC) is coming to the sensible contract platform Solana (SOL).
In a session through the Solana Breakpoint 2024 occasion, Coinbase government Hasan Ahmed says the crypto trade is introducing Coinbase Wrapped Bitcoin (cbBTC) to the Ethereum (ETH) competitor’s blockchain.
“We just lately launched cbBTC on Base, however our customers love Solana and so can we, so we’re very excited to announce that we are going to be bringing native cbBTC to Solana as nicely.”
Base is Coinbase’s Ethereum layer-2 answer designed to permit builders to construct purposes with out getting slowed down by excessive gasoline charges.
Earlier this month, Coinbase launched cbBTC, an Ethereum-based token backed by Bitcoin that offers BTC holders entry to decentralized finance (DeFi) protocols by way of the Base and Ethereum blockchains.
“cbBTC is constructed to be seamlessly appropriate with DeFi purposes, so customers can now faucet into novel DeFi use instances like offering their Bitcoin as liquidity to DeFi protocols, or utilizing it as collateral to borrow different crypto belongings.”
On the time, Coinbase stated cbBTC could be appropriate with many outstanding DeFi protocols, together with Aave (AAVE), Curve Finance (CRV), and Compound Finance (COMP).
Lately, the market cap of cbBTC has surged to $171 million, based on information from CoinGecko. On September sixteenth, it was simply at $97 million.
The highest crypto asset by market cap is buying and selling for $63,718 at time of writing, a 1.21% enhance over the past 24 hours.
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Verify Worth Motion
Observe us on X, Fb and Telegram
Surf The Day by day Hodl Combine
 
Disclaimer: Opinions expressed at The Day by day Hodl should not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any losses you might incur are your accountability. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please notice that The Day by day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney
