Cryptocurrency exchange Coinbase plans to bring its cbBTC token to the Solana blockchain, the company’s Singapore CEO said at the Solana Breakpoint 2024 event held in Singapore on Saturday.

“We recently launched cbBTC on Base, but our users love Solana, and so do we,” Coinbase Singapore CEO Hassan Ahmed said during a panel discussion at Breakpoint. However, Ahmed did not provide a detailed timeline for when cbBTC would be available on Solana.

The centralized digital asset exchange launched its version of wrapped bitcoin last week after announcing the token in August. Following the launch, cbBTC has been deployed on both the Ethereum and Base networks.

The ERC-20 token, backed 1:1 by Bitcoin and held by Coinbase, is designed for users looking to provide Bitcoin liquidity to DeFi protocols in the Ethereum and Base ecosystems, or for users looking to use it as collateral for other assets. The company announced the token following a change in ownership of its competing token, WBTC.