cbBTC is onchain.

cbBTC is an ERC20 token that is backed 1:1 by Bitcoin (BTC) held by Coinbase.

This means millions of BTC holders can now securely access DeFi apps on Base and Ethereum ecosystems—with more chains coming soon.

This is a game-changer for the DeFi space! Having an ERC20 token backed 1:1 by BTC opens up incredible opportunities for secure and seamless access to the vast array of DeFi applications on both Base and Ethereum. Excited to see how this will expand into other chains in the near future!