Coinbase Launches Wrapped Bitcoin Token on Top of Solana

Coinbase, the largest U.S.-based cryptocurrency exchange, announced the launch of cbbtc, its in-house developed wrapped bitcoin token, on top of the Solana network. Highlighting the significance of this move, Coinbase stated: “This is the first token Coinbase has issued on Solana, and with it, we’re excited to bring easy access to BTC.” Coinbase partnered with some of Solana’s largest decentralized protocols, including Jupiter, Meteora, Kamino, Jito, Phoenix, Rift, Raydium, Orca, and others, to include cbbtc in their platforms. Solana’s X account referred to this development as an opportunity to bring “more of bitcoin’s value to Solana’s thriving defi ecosystem.” The token had been launched on Ethereum and Base before.