đ Big News for BTC Enthusiasts! đ
Coinbase, the largest US-based crypto trading platform, has just launched its Wrapped Bitcoin product (cbBTC) on Base and Ethereum blockchains! đ This exciting development follows their integration of the Lightning Network for faster and cheaper BTC transfers earlier this year.
cbBTC is backed 1:1 by Bitcoin held by Coinbase, allowing users to seamlessly access financial apps within the Ethereum ecosystem using their existing BTC. đ This opens up a world of DeFi opportunities, from providing liquidity to using BTC as collateral for borrowing other crypto assets.
Initially available in the US (excluding New York State), UK, EEA states, Singapore, Australia, and Brazil, cbBTC is set to expand its support to other networks soon. đ
Stay tuned for more ways to maximize your Bitcoin! đȘ