Cryptocurrency exchange Coinbase now officially supports Wrapped Bitcoin (WBTC) at Coinbase.com and in the Coinbase Android and iOS apps, the exchange announced.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The exchange's users now buy, sell or store WBTC on the platform. The new asset is available in all Coinbase-supported regions, except for New York State.
Wrapped Bitcoin (WBTC) is an ERC-20 token that was designed as an analogy of bitcoin (EXANTE: Bitcoin) on the Ethereum blockchain network.
Earlier in October, Coinbase announced a financial support of two Bitcoin (EXANTE: Bitcoin) core developers as part of its Crypto Community Fund.
While it is not clear who will receive funding nor the size of the sponsorship itself, the US-based crypto trading platform wants to grow and improve the entire market of digital assets, while making it simpler to use and more secure for everyone.
In August, BitGo, a digital asset trust and security company, announced plans to launch its own version of the Ethereum network for WBTC.
BitGo CTO Ben Chan said BitGo was trying to contact community partners to develop an Ethereum sidechain due to sky-high rate of fees allegedly triggered by tether (USDT). It is unclear whether BitGo is still sticking to the plan so far. BitGo secures over 45,000 WBTC worth of $550+ million at press time.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.