Coinbase Expands Bitcoin Access on Solana with cbBTC Launch

Coinbase is set to introduce cbBTC, a Bitcoin-backed token, on the Solana blockchain. This move aims to enhance Bitcoin accessibility for Solana users, aligning with other platforms exploring similar initiatives.

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cbBTC, backed 1:1 by Bitcoin reserves, will enable seamless Bitcoin integration into the Solana ecosystem, allowing users to leverage Bitcoin’s value and liquidity within the Solana network. This strategic expansion aligns with Coinbase’s commitment to offering diverse options for users to engage with digital assets, broadening the reach of Bitcoin to a wider audience.