Coinbase Wrapped Bitcoin token
Overview
Coinbase Wrapped BTC (cbBTC) is a wrapped Bitcoin token issued by Coinbase, backed 1:1 by bitcoin held by Coinbase itself. It went live on 12 September 2024 on the Base and Ethereum networks, initially for customers in Singapore, Australia, the United Kingdom and every US state except New York. Coinbase later extended cbBTC to Solana — announced at Solana's Breakpoint 2024 conference — and the token is now also available on Arbitrum, giving four supported networks. The purpose is to let bitcoin holders use BTC exposure inside DeFi: cbBTC can be supplied, lent and borrowed on protocols such as Aave, Compound and MakerDAO, which native bitcoin cannot access. Because reserves are custodied by Coinbase rather than held in a decentralised vault, cbBTC's backing depends on trust in Coinbase as the custodian and issuer — a materially different risk model from trust-minimised bridging. cbBTC launched on 12 September 2024 on Base and Ethereum as a competitor to the incumbent wrapped bitcoin products, and expanded to Solana and Arbitrum thereafter.
Within the DeFi Intel graph, Coinbase Wrapped Bitcoin connects to 8 tracked entities, most strongly to Ethereum, Base, Coinbase.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 8 of 8 total).
| Relation | Connected entity | Confidence |
|---|---|---|
deployed_on | Ethereum | 95% |
deployed_on | Base | 95% |
issued_by | Coinbase | 95% |
launched | Coinbase Global Inc. | 95% |
competes_with | Wrapped Bitcoin | 95% |
built_on | Base | 95% |
deployed_on | Solana | 92% |
launched | CME Group | 50% |
Frequently asked questions
What is Coinbase Wrapped Bitcoin?
Coinbase Wrapped Bitcoin is a token tracked in the DeFi Intel knowledge graph. It is connected to 8 other tracked entities, most strongly to Ethereum, Base, Coinbase.
What type of entity is Coinbase Wrapped Bitcoin?
Coinbase Wrapped Bitcoin is classified as a token (token) in the DeFi Intel knowledge graph.
What is Coinbase Wrapped Bitcoin connected to?
In the DeFi Intel knowledge graph, Coinbase Wrapped Bitcoin is linked to 8 other tracked entities, most strongly to Ethereum, Base, Coinbase.
Live news feed, full graph, and search.