Coinbase’s wrapped BTC asset, cbBTC, is expanding to Robinhood Chain via Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as its exclusive bridging infrastructure. Ecosystem builders now have access to a Bitcoin-backed asset with over $7.5 billion in circulation.
Launched last month by electronic trading platform Robinhood, Robinhood Chain is a permissionless, AI-native layer-2 built to connect traditional financial markets to DeFi and tokenized real-world assets (RWAs) such as U.S. stocks and ETFs. Chainlink’s industry-standard oracle platform was selected as the official data and cross-chain oracle infrastructure powering Robinhood Chain and all Robinhood-issued assets, including stock tokens such as NVDA, GOOG, and AAPL.
CCIP leverages Chainlink’s industry-standard oracle infrastructure, which has enabled over $33 trillion in transaction value, to transfer digital assets with the highest level of cross-chain security. Last year, Coinbase selected CCIP as its exclusive secure bridging solution for all wrapped assets including cbBTC, cbETH, cbDOGE, cbLTC, cbADA, and cbXRP.
Through the Cross-Chain Token (CCT) standard, cbBTC moves as a natively interoperable token between Base and chains such as Monad while maintaining uniform liquidity and a consistent developer experience.
Fully transferable and backed 1:1 by BTC held by Coinbase, cbBTC also leverages Chainlink’s Proof of Reserve to increase the transparency of its BTC reserves with verifiable onchain data. Wrapped BTC tokens like cbBTC are a key Chainlink-powered use case scaling BTC-driven DeFi (BTCFi), which amplifies the onchain utility of Bitcoin’s underutilized trillion-dollar market capitalization.
“We are excited to power the expansion of Coinbase’s cbBTC to Robinhood Chain, utilizing Chainlink CCIP as the exclusive cross-chain infrastructure,” said William Reilly, Head of Strategic Initiatives at Chainlink Labs.
“Digital assets reach their full potential when they can move across ecosystems without compromising security. Through this expansion, the underlying Bitcoin remains secure and audited, significantly reducing systemic risk while unlocking over $7.5 billion in circulating liquidity for Robinhood’s DeFi ecosystem.”