Coinbase, the leading US-based cryptocurrency exchange, has announced that it will be bringing its wrapped version of Bitcoin, known as cbBTC, to the smart contract platform Solana. During the Solana Breakpoint 2024 event, Coinbase executive Hasan Ahmed expressed the exchange’s excitement about introducing cbBTC to Solana’s blockchain, as users have shown a strong preference for the platform. Coinbase recently launched cbBTC on its Ethereum layer-2 solution called Base, which allows developers to build applications without being hindered by high gas fees. The Ethereum-based token backed by Bitcoin enables BTC holders to access decentralized finance (DeFi) protocols on both the Base and Ethereum blockchains. Coinbase emphasized that cbBTC is designed to seamlessly integrate with DeFi applications, enabling users to explore various DeFi use cases, such as providing Bitcoin as liquidity or using it as collateral to borrow other crypto assets. The market cap of cbBTC has recently surged to $171 million, up from $97 million on September 16th. The current price of the top crypto asset by market cap is $63,718, with a 1.21% increase in the last 24 hours.