Wrapped Bitcoin products allow users to retain asset control while using Bitcoin as collateral for decentralized finance applications.
Coinbase's country director for Singapore, Hassan Ahmed, recently announced plans to bring Coinbase's new "cbBTC" — a wrapped Bitcoin asset — to the Solana (SOL) network at the Breakpoint 2024 event.
No date was specified for the launch of the Bitcoin (BTC) token during the announcement. Ahmed told the audience:
The Coinbase executive's announcement drew immediate applause from the Solana-centered conference — indicating an appetite for the collateralized asset.
