Coinbase Launches cbBTC on Arbitrum: A 1:1 Bitcoin Pegged ERC-20 Token

COINOTAG has reported that on November 20, **Coinbase’s** cbBTC has officially launched on the **Arbitrum** network. This development marks a significant step in the integration of **decentralized finance (DeFi)** solutions within the Ethereum ecosystem. The cbBTC token, structured as an **ERC-20 token**, is designed to maintain a **1:1 peg** with Bitcoin (**BTC**), ensuring that each unit is underpinned by Bitcoin reserves. This move not only enhances liquidity but also offers users a streamlined method to engage with Bitcoin’s price movements through the **Ethereum network**. Such innovations reflect the evolving landscape of digital assets, where interoperability among blockchain platforms is becoming increasingly critical. Industry professionals and investors alike are closely monitoring the implications of cbBTC on broader cryptocurrency adoption and market dynamics.