Coinbase Wrapped BTC

Built on the Ethereum blockchain, Coinbase Wrapped BTC (CBBTC) is a pioneering effort in the DeFi space, enabling users to seamlessly utilize their assets onchain. This ERC20 token is backed 1:1 by Bitcoin (BTC) held in custody by Coinbase, a reputable and secure custodian with a 10+ year record of securely managing billions in crypto for institutions and customers worldwide.

The technology behind CBBTC is designed to provide faster and cheaper access to DeFi applications, while maintaining the security and trust associated with traditional onchain transactions. By leveraging Coinbase's deep off-chain liquidity, users can enjoy low-cost, high-speed financial rails on Base, a platform that links deep liquidity to low-cost, high-speed financial rails. This innovative approach enables users to send and receive eligible assets on and offchain seamlessly, converting 1:1 between the underlying asset and the wrapped token.

CBBTC has far-reaching implications for the DeFi ecosystem, allowing users to borrow, lend, or discover new ways to utilize their assets. With a growing list of partner applications, including Aerodrome, Curve, Oku, Aave, Morpho, Compound, Moonwell, Spark, and many others, CBBTC is poised to expand the financial system's accessibility and efficiency. By providing a trusted and reputable wrapped version of eligible assets, Coinbase is helping build a more expansive and interconnected financial ecosystem.

As a publicly traded company, Coinbase adheres to the strictest standards of financial reporting, risk controls, and independent audits. With licensed entities across the U.S., Europe, and Asia, Coinbase offers global nexuses to its products. The company sets the industry benchmark for safeguarding digital assets, with battle-tested key management systems, 24/7 threat monitoring, and dedicated security infrastructure teams.

Coinbase Wrapped BTC (CBBTC) is available on multiple networks, including Base, Ethereum, Solana, and Arbitrum, with a growing list of eligible assets. Users can send and receive CBBTC using multichain send/receive flows of the underlying asset, ensuring seamless integration with existing DeFi applications. With its unique value proposition and innovative technology, CBBTC is poised to revolutionize the way users interact with their assets onchain.