Coinbase Launches Wrapped Ethereum ERC-20 Token Called cbETH

Coinbase has announced plans to launch a new wrapped and staked Ethereum ERC-20 token called cbETH as the world prepares for the Ethereum Merge and the platforms shift from Proof of Work to Proof of Stake. Wrapped tokens are a way to solve this issue of interoperability in the cryptocurrency space and act as a bridge allowing communication between blockchains.

  • Coinbase to launch a new wrapped and staked Ethereum ERC-20 token, cbETH
  • Cryptocurrencies on blockchains other than the one they were originally built on
  • Wrapped tokens backed 1:1 by their underlying asset and stored in a digital vault

Coinbase, one of the world's largest and most prominent cryptocurrency exchanges, announced plans Wednesday to launch a new wrapped and staked Ethereum ERC-20 token called cbETH. The exchange will be listing cbETH on the Ethereum network as an ERC-20 token, allowing customers to use staked Ether (ETH) while earning rewards on the exchange. This announcement …

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