TechFlow news: U.S.-based cryptocurrency exchange Coinbase has officially launched its wrapped Bitcoin token, Coinbase Wrapped BTC (cbBTC).
The token operates on the Ethereum network and is backed 1:1 by Bitcoin, enabling traders to use Bitcoin on Ethereum, primarily for decentralized finance (DeFi) applications. Coinbase stated that cbBTC will run on both the Ethereum mainnet and its own Layer 2 network, Base, marking the first integration of deep off-chain Bitcoin liquidity with low-cost, high-speed financial rails on Base and Ethereum.




