High US-based crypto trade Coinbase says its wrapped model of Bitcoin (BTC) is coming to the good contract platform Solana (SOL).
In a session throughout 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 not too long ago launched cbBTC on Base, however our customers love Solana and so can we, so we’re very excited to announce that we’ll be bringing native cbBTC to Solana as effectively.”
Base is Coinbase’s Ethereum layer-2 resolution designed to permit builders to construct functions 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 through the Base and Ethereum blockchains.
“cbBTC is constructed to be seamlessly appropriate with DeFi functions, so customers can now faucet into novel DeFi use circumstances like offering their Bitcoin as liquidity to DeFi protocols, or utilizing it as collateral to borrow different crypto property.”
On the time, Coinbase mentioned cbBTC could be appropriate with many outstanding DeFi protocols, together with Aave (AAVE), Curve Finance (CRV), and Compound Finance (COMP).
Not too long ago, the market cap of cbBTC has surged to $171 million, in line with knowledge 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 Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl usually are not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any losses it’s possible you’ll incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in online marketing.
Generated Picture: Midjourney
