Coinbase Expands Wrapped Bitcoin to Robinhood Chain via Chainlink

Coinbase's wrapped Bitcoin product, cbBTC, has expanded to Robinhood Chain, a new Layer-2 blockchain, through Chainlink's Cross-Chain Interoperability Protocol (CCIP). This connection allows Bitcoin-backed assets to move seamlessly between Coinbase and Robinhood, two major crypto retail platforms serving tens of millions of users. Chainlink not only facilitates asset transfers but also provides price feeds for trading, including tokenized stocks on Robinhood.

This integration broadens Coinbase's asset reach and enables Robinhood to offer liquid wrapped Bitcoin without developing its own product, though it introduces dependency risks on Chainlink's infrastructure. This expansion is a significant step towards greater interoperability between different blockchain platforms.