“This is the first token Coinbase has issued on Solana, and with it, we’re excited to bring easy access to BTC.”Worth noting that, cbBTC joins an expanding roster of wrapped Bitcoin tokens on Solana, such as tBTC and WBTC , along with upcoming assets like zBTC from Zeus Network and sBTC from Stacks.
This Bitcoin-backed wrapped token is set to play a pivotal role in Solana’s decentralized finance landscape, providing new opportunities for liquidity and collateral in lending protocols.This included Jupiter Exchange, Meteora AG, Kamino Finance, Jito Labs, Phoenix, Drift Protocol, Raydium, Orca, Save Finance, Manifest, and Loopscale Labs.from Artemis, Solana’s Total Value Locked has surged by 385% YTD. At press time, it stood at $6.8 billion.
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