High US-based crypto alternate Coinbase is teasing its new wrapped model of Bitcoin (BTC) to Ethereum (ETH) layer-2 scaling resolution Arbitrum (ARB).
In a brand new announcement on the social media platform X, Coinbase Property tells its viewers that Coinbase Wrapped Bitcoin (cbBTC) is “coming quickly” to the sensible contract platform Arbitrum.
Earlier this month, Coinbase announced the launch of cbBTC, a token that will permit holders of the crypto king to entry decentralized finance (DeFi) protocols over the Ethereum and Base blockchains.
On the time, Coinbase stated cbBTC can be suitable with a number of outstanding DeFi platforms, together with Aave (AAVE), Curve FInance (CRV), Compound Finance (COMP), Moonwell (WELL), and Maple Finance (MPL).
In an accompanying weblog submit, Coinbase defined how cbBTC would streamline the DeFi expertise of BTC holders.
“cbBTC removes a key level of friction by permitting prospects to make use of Bitcoin they already maintain in new methods onchain. cbBTC is constructed to be seamlessly suitable 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.”
Weeks later, Coinbase government Hasan Ahmen said that the crypto alternate can be bringing cbBTC over to Solana (SOL), Ethereum’s high competitor.
“We just lately launched cbBTC on Base, however our customers love Solana and so will we, so we’re very excited to announce that we are going to be bringing native cbBTC to Solana as properly.”
Bitcoin, and subsequently cbBTC, is buying and selling for $66,011 at time of writing, a 1% acquire over the past 24 hours.
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Examine Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
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 property. Please be suggested that your transfers and trades are at your personal threat, 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 property, neither is The Day by day Hodl an funding advisor. Please observe that The Day by day Hodl participates in internet online affiliate marketing.
Featured Picture: Shutterstock/estevez
