Coinbase Wrapped BTC $CBBTC is a tokenized bridged Bitcoin solution enabling seamless use of Bitcoin within Ethereum-based decentralized finance applications. More
Fully Diluted Valuation | $7.54B |
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24H Trading Volume | $750.83M |
24H Low / High | $107.41K / $ 113.61K |
Circulating Supply | 69.54K |
Total Supply | 69.54K |
Max Supply | ∞ |
Categories | Wrapped-Tokens 6 more |
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Founder | Coinbase 1 more |
Website | coinbase.com Whitepaper 1 more |
Socials | |
Chains | Ethereum Ecosystem 3 more |
Explorer | Solscan 5 more |
Contracts |
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Name | Pair | OG Score |
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Coinbase Wrapped BTC ($CBBTC) is a project by Coinbase, one of the world’s leading cryptocurrency exchanges, created to bridge Bitcoin and Ethereum ecosystems. Launched as part of Coinbase’s broader vision for cross-chain interoperability, $CBBTC allows Bitcoin to be tokenized and used in decentralized finance (DeFi) applications on Ethereum.
A key milestone in the project’s evolution was its integration into Coinbase’s ecosystem, which provided institutional-grade custody for Bitcoin collateral. Rigorous audits have further strengthened $CBBTC’s credibility by ensuring transparency and verifying the integrity of its technical infrastructure.
Coinbase Wrapped BTC $CBBTC operates as an ERC-20 token, making it fully compatible with Ethereum-based DeFi platforms. Each $CBBTC is backed 1:1 with Bitcoin securely held in Coinbase’s custody.
Coinbase’s institutional-grade security underpins the project, with measures including cold storage, multi-signature wallets, and advanced risk controls. The minting and burning of tokens are transparent, and users can verify $CBBTC’s supply directly on-chain.
Unlike other wrapped Bitcoin projects, $CBBTC leverages Coinbase’s infrastructure and third-party smart contract audits, ensuring both reliability and ease of integration for developers and institutions.
$CBBTC enables Bitcoin holders to access Ethereum’s DeFi ecosystem while retaining Bitcoin’s underlying value. Its use cases include:
DeFi Lending and Borrowing: $CBBTC can be used as collateral on platforms like Aave or Compound.
Liquidity Provision: It is integrated into decentralized exchanges (DEXs) such as Uniswap, where it forms part of trading pairs and liquidity pools.
Portfolio Strategies: Institutions use $CBBTC to hedge Bitcoin exposure within Ethereum markets.
dApp Integration: Developers embed $CBBTC into decentralized applications for yield farming, staking, and automated market-making.
Peg Mechanism: Each $CBBTC is directly backed by Bitcoin at a 1:1 ratio.
Minting and Burning: Minting occurs when Bitcoin is deposited with Coinbase, while burning happens upon redemption, maintaining strict supply balance.
Value Drivers: $CBBTC derives value from its use as collateral, liquidity in DeFi, and its secure custodial model backed by Coinbase.
Stability: The peg to Bitcoin ensures minimal volatility beyond Bitcoin’s price movements, making it a stable entry point for cross-chain activity.
The strength of $CBBTC’s ecosystem lies in Coinbase’s large retail and institutional user base. Its reputation has attracted developers and institutions eager to use a secure wrapped Bitcoin token in financial protocols.
Strategic integrations with DeFi leaders like MakerDAO, Compound, and Aave have expanded $CBBTC’s applications across lending, stablecoin minting, and liquidity pools. Regulatory discussions around tokenized assets have also highlighted Coinbase’s role as a compliance-focused actor, reinforcing trust in $CBBTC.
As of October 2025, $CBBTC has seen significant updates:
Enhanced APIs: New developer tools improve integration with dApps.
Improved Auditing: Expanded transparency in collateral verification processes.
Cross-Chain Bridging: $CBBTC can now move between Ethereum and select alternative blockchains, reducing friction for multi-chain DeFi users.
DeFi Expansion: Broader adoption across lending, liquidity pools, and staking platforms continues to boost its role in decentralized finance.
Coinbase Wrapped BTC $CBBTC is a secure, transparent, and interoperable solution for bringing Bitcoin into Ethereum’s DeFi ecosystem. Backed by Coinbase’s trusted custody, rigorous audits, and seamless ERC-20 integration, $CBBTC provides both retail and institutional users with reliable access to decentralized financial services. Its tokenomics, collaborations, and cross-chain functionality position it as a leading wrapped Bitcoin product in today’s blockchain landscape.
Each token is backed 1:1 with Bitcoin held in Coinbase custody. Minting and burning are verifiable on-chain, ensuring full transparency.
Coinbase secures Bitcoin collateral using institutional-grade solutions, including multi-signature wallets, cold storage, and independent audits.
It enables seamless integration with Ethereum DeFi platforms, supporting lending, staking, trading, and liquidity provision without additional adjustments.
Coinbase Wrapped BTC (cbBTC) allows Bitcoin holders to use BTC within Ethereum’s DeFi ecosystem, maintaining liquidity and access to decentralized finance applications.
Coinbase Wrapped BTC (cbBTC) is a product developed and managed by the Coinbase team.
Coinbase Wrapped BTC is backed by Coinbase, one of the largest and most recognized cryptocurrency exchanges.
Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum One), Pancakeswap V3 (Base), Pancakeswap V3 (Arbitrum)Aerodrome (Base)