Coinbase Wrapped BTC (cbBTC) asset
Overview
Coinbase Wrapped BTC (cbBTC) is Coinbase's wrapped bitcoin token, backed 1:1 by BTC held in Coinbase custody. It launched on September 12, 2024 on Ethereum and Base, with bitcoin sent by eligible Coinbase users to supported networks converted automatically to cbBTC, and later expanded to chains including Solana and Arbitrum. It competes with WBTC as collateral for onchain trading and lending.
Within the DeFi Intel graph, Coinbase Wrapped BTC (cbBTC) connects to 11 tracked entities, most strongly to Ethereum, Coinbase Custody, Aave.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 10 of 11 total).
| Relation | Connected entity | Confidence |
|---|---|---|
deployed_on | Ethereum | 95% |
issuer_of | Coinbase Custody | 95% |
integrated_with | Aave | 90% |
integrated_with | Compound | 90% |
integrated_with | Morpho | 90% |
integrated_with | Curve Finance | 90% |
integrated_with | Aerodrome Finance | 90% |
competitor_of | Wrapped Bitcoin (WBTC) | 90% |
deployed_on | Solana | 85% |
deployed_on | Arbitrum | 85% |
Frequently asked questions
When did cbBTC launch and on which networks?
Coinbase launched cbBTC on 12 September 2024, initially on Ethereum and Base, later expanding to additional chains including Solana and Arbitrum.
What backs cbBTC?
Each cbBTC is backed 1:1 by bitcoin held in Coinbase custody; users' BTC is converted to cbBTC at a one-to-one ratio.
Where is cbBTC available to Coinbase users?
Coinbase made cbBTC send and receive available in the US (excluding New York State), the UK, EEA states, Singapore, Australia and Brazil.
Sources
Facts on this page were verified against the following sources.