Bitcoin, wrapped and tokenized by Coinbase for use on Ethereum.
**Coinbase Wrapped BTC (CBBTC)** is an ERC-20 token that represents Bitcoin on the Ethereum blockchain.
Each token is backed 1:1 by Bitcoin held in custody by **Coinbase**, ensuring transparency and verifiable reserves.
CBBTC allows users to interact with decentralized finance (DeFi) applications on Ethereum while maintaining exposure to Bitcoin's value.
Below is live market data fetched directly from the CoinGecko API.
Coinbase Wrapped BTC (CBBTC) Live Data
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Project Overview
Coinbase Wrapped BTC (CBBTC) functions similarly to WBTC (Wrapped Bitcoin) but is fully managed by **Coinbase**, one of the most trusted and regulated crypto exchanges in the world.
Each CBBTC token represents one Bitcoin held securely by Coinbase Custody, with proof of reserves and regular attestations for transparency.
The token allows users to access lending, liquidity pools, and yield opportunities on Ethereum-based DeFi platforms.
Key Insights
CBBTC bridges Bitcoin's liquidity into Ethereum's DeFi ecosystem with institutional-grade security.
It offers similar functionality to WBTC but benefits from Coinbase's regulatory oversight and brand trust.
By tokenizing BTC, Coinbase enables faster transactions and smart contract integration while preserving Bitcoin's value stability.
Common Questions About Coinbase Wrapped BTC
1. What is Coinbase Wrapped BTC?
It's a tokenized version of Bitcoin on Ethereum, fully backed and issued by Coinbase at a 1:1 ratio.
2. How is CBBTC different from WBTC?
While both are 1:1 Bitcoin-backed ERC-20 tokens, CBBTC is issued and managed exclusively by Coinbase, ensuring institutional custody.
3. How can users verify reserves?
Coinbase provides public attestations and on-chain transparency to confirm the BTC reserves behind CBBTC.
4. What can I do with CBBTC?
You can use it across DeFi platforms for lending, staking, trading, and liquidity provision on Ethereum.
5. Is CBBTC redeemable for real Bitcoin?
Yes. Holders can redeem their tokens 1:1 for BTC through Coinbase, subject to KYC/AML verification.
Market Context
Coinbase Wrapped BTC extends Bitcoin's reach into Ethereum's DeFi landscape. It competes with WBTC and tBTC as a trusted on-chain representation of Bitcoin liquidity.
As institutional involvement grows, regulated wrapped assets like CBBTC could become the standard for compliant DeFi integration.