mainnetstablecoin
cbBTC
Coinbase wrapped BTC, bridged to Tempo via Chainlink CCIP.
- Data completeness
- 100%
- Confidence
- 79%
- Sources
- 3
- Last reviewed
- 7 Jun 2025
The take
What to know
cbBTC is Coinbase-issued wrapped bitcoin, backed 1:1 by BTC in Coinbase custody and bridged onto Tempo via Chainlink CCIP, where it has been live since May 2026. On Tempo it serves as BTC liquidity and collateral for DeFi rather than as a payment stablecoin or gas token.
Best for
- +BTC-backed credit, lending, and earn products on Tempo
- +Bringing bitcoin liquidity and collateral into Tempo DeFi
- +Apps wanting BTC price exposure alongside Tempo's stablecoin payments
Watch out
- Not a stablecoin — its value tracks bitcoin and is volatile
- Custodial trust: the underlying BTC is held by Coinbase, not natively settled
- Bridge dependency: it is a bridged asset secured by Chainlink CCIP, not a native token
- Cannot be used to pay Tempo gas, which is settled in USD-denominated stablecoins
The record
Key facts
- Issuer
- Coinbase. cbBTC is "Coinbase Wrapped BTC," Coinbase's tokenized representation of bitcoin.· 60%
- Asset type & backing
- Wrapped/tokenized bitcoin — not a fiat-pegged stablecoin. Backed 1:1 by BTC held in Coinbase custody, redeemable/unwrappable for the underlying BTC, so its price tracks bitcoin.· 60%
- Bridge to Tempo
- Brought to Tempo as a bridged asset via Chainlink CCIP rather than minted natively on the chain.· 92%
- Bridge security model
- Each Chainlink CCIP lane is secured by at least 16 independent, security-reviewed node operators, with native rate limits acting as circuit breakers.· 90%
- Status on Tempo
- Live on Tempo since May 2026 (May 15 per Tempo's announcement), integrated via Chainlink CCIP.· 94%
- Role on Tempo
- Provides bitcoin liquidity and collateral for Tempo DeFi — lending, earn, BTC-backed credit, and trading.· 88%
- Other chains
- In addition to Tempo, cbBTC is deployed on Ethereum, Base, and Solana; Arbitrum is also reported by two of the three analysts.· 60%
- Not a gas token
- cbBTC is not used to pay Tempo transaction fees; gas on Tempo is paid in USD-denominated stablecoins.· 90%
The timeline
History
2024-09
Coinbase launches cbBTC
Coinbase introduces cbBTC (Coinbase Wrapped BTC), tokenized bitcoin backed 1:1 by BTC in custody, initially on Base and Ethereum.
2026-05
cbBTC goes live on Tempo
cbBTC is bridged onto Tempo via Chainlink CCIP, bringing bitcoin liquidity and collateral to the network for the first time.
Questions
FAQ
- Is cbBTC a stablecoin?
- No. cbBTC is wrapped bitcoin backed 1:1 by BTC in Coinbase custody, so its price moves with bitcoin and is volatile. It is grouped alongside stablecoins only because it is a backed, wrapped asset.
- Who issues cbBTC and what backs it?
- Coinbase issues cbBTC, and each token is backed 1:1 by bitcoin held in Coinbase custody, with a near-real-time on-chain Proof of Reserves page.
- How did cbBTC get onto Tempo?
- It was bridged onto Tempo via Chainlink CCIP — a bridged asset rather than a natively minted token — and has been live there since May 2026.
- Can cbBTC be used to pay Tempo gas?
- No. cbBTC is used for collateral and DeFi liquidity; Tempo transaction fees are paid in USD-denominated stablecoins.
The graph