Ethereum's blockchain enables Bitcoin holders to engage in DeFi activities, highlighting its growing importance.

From Nasdaq

September 25, 2024 6:00 am:

Coinbase Global (NASDAQ: COIN) has introduced cbBTC, a Bitcoin-wrapped token that allows Bitcoin to be used in the DeFi economy, benefiting Ethereum (CRYPTO: ETH). cbBTC is a token on Ethereum’s blockchain that enables Bitcoin holders to engage in DeFi activities while maintaining a 1:1 ratio with Bitcoin.

The launch of cbBTC highlights Ethereum’s position in the digital economy, as it has the infrastructure to handle tokenization at scale. BlackRock, with over $10 trillion in assets, also chose Ethereum for its blockchain ventures like BUIDL, a tokenized money market fund. BlackRock believes tokenization will revolutionize markets, emphasizing Ethereum’s role.

Ethereum’s solid performance and reliability make it the ideal platform for the future of finance. Its liquidity, developer community, and ecosystem position it as a bridge between traditional finance and blockchain. With Coinbase’s adoption of Ethereum for cbBTC, Ethereum’s value is expected to increase as it attracts more institutional interest.

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Read more at Nasdaq: The Silent Winner of Coinbase’s cbBTC: Ethereum’s Role in the Multi-Trillion-Dollar Tokenization Movement