PANews reported on November 20 that according to the official announcement of Coinbase, cbBTC launched by Coinbase is now available on the Arbitrum network. cbBTC is an ERC-20 token supported by Coinbase, and each unit is backed by 1:1 Bitcoin (BTC) as a reserve.

cbBTC natively supports the Arbitrum network and further expands the scope of safe use for users in the Ethereum ecosystem, providing users with more liquidity options and cross-chain convenience.