Coinbase Wrapped BTC (cbBTC) is a tokenized representation of Bitcoin, designed to bring BTC into the world of smart contracts and programmable finance. cbBTC allows users to deploy their Bitcoin holdings across modern decentralized applications, while maintaining a 1:1 backing with real BTC held securely in Coinbase’s custody. By wrapping BTC into a more composable form, cbBTC makes it easier to access the growing universe of onchain innovation—without giving up trust or security.
The cbBTC experience is built for simplicity. Users can wrap BTC directly from their Coinbase exchange account into cbBTC, ready for use in any supported self-custodial wallet. Once wrapped, cbBTC behaves like any token—tradable, transferable, and integrable across apps and protocols. When it’s time to revert, cbBTC can be sent back to Coinbase and unwrapped seamlessly into native Bitcoin. The result is a smooth, chain-agnostic bridge between BTC and onchain utility.
By unlocking Bitcoin for use in decentralized protocols, cbBTC transforms a traditionally static asset into dynamic collateral. It can be used for lending, yield generation, liquidity provision, and other onchain financial strategies—all while retaining its BTC backing. With Coinbase providing secure custody and transparency through proof-of-reserves, cbBTC strikes a balance between institutional trust and open network access. It's Bitcoin, evolved for composability across chains and platforms.
