The token will initially be offered on Ethereum and Coinbase’s Base networks, with plans to expand to more blockchains in the coming months.

• Coinbase has introduced its version of wrapped bitcoin, cbBTC, on the Ethereum and Base networks, allowing users to use bitcoin in DeFi applications.
• cbBTC is supported by various DeFi services for trading, lending, and as collateral, with automatic conversion features for Coinbase users transferring bitcoin to or from these networks.
• This launch follows Coinbase's hint at entering the wrapped bitcoin market and challenging the existing leader, BitGo's WBTC, with plans to foster a significant bitcoin economy on Base.

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