cbBTC: swapping Coinbase's wrapped Bitcoin
cbBTC is a wrapped form of Bitcoin issued by Coinbase, letting BTC value move on EVM networks. Like WBTC, it stands in for Bitcoin inside smart-contract ecosystems, with its own custody model behind the wrapper.
What cbBTC is
cbBTC is a token that tracks Bitcoin one-to-one but lives on EVM chains as an ERC-20, backed by BTC held by Coinbase. It exists for the same reason as other wrapped Bitcoin: native BTC can't interact with Ethereum-style smart contracts, so a wrapped version bridges that gap.
The difference from WBTC is mainly the custodian and issuer. Functionally, cbBTC gives you Bitcoin exposure inside EVM ecosystems, relying on the entity that backs it rather than the Bitcoin network itself.
How swapping cbBTC works on Multiswap
Because cbBTC is an ERC-20, swapping it into or out of ETH, stablecoins, or even WBTC is a same-chain swap on the EVM network it's on. Multiswap compares those routes and ranks them by net received.
Moving between native BTC and cbBTC is a cross-chain operation that crosses from the Bitcoin network to an EVM chain, which the aggregator also compares. So switching between forms of Bitcoin is one comparison rather than a manual wrap-and-bridge.
- cbBTC to ETH, stablecoins, or WBTC: a same-chain EVM swap.
- Native BTC to or from cbBTC: a cross-chain route.
- Bitcoin exposure on EVM chains, via Coinbase's custody model.
Where cbBTC lives
cbBTC is issued by Coinbase and appears on more than one EVM network, with Base, Coinbase's own Ethereum Layer 2, being a natural home alongside Ethereum itself. Because it is an ERC-20 wherever it lives, cbBTC on one chain is not automatically usable on another, so the network your cbBTC sits on is part of what you are choosing when you swap into it.
The backing model is the other half of the picture: each cbBTC is meant to correspond to Bitcoin held by Coinbase. That ties the token's one-to-one link to BTC to Coinbase as the custodian rather than to the Bitcoin network, which is exactly the trust question to weigh when deciding between cbBTC, WBTC, and holding native BTC.
cbBTC versus WBTC and native BTC
cbBTC and WBTC do the same job, Bitcoin on EVM chains, and differ mainly in who issues and custodies them. Native BTC, by contrast, settles on the Bitcoin network with no smart-contract functionality. Which you choose depends on where you want Bitcoin value and whose custody model you prefer.
Swapping between cbBTC, WBTC, and native BTC is straightforward once you treat cross-form moves as the cross-chain steps they are, and same-network moves as ordinary swaps.
Frequently asked questions
Can I swap cbBTC with Multiswap?
Yes. Multiswap compares routes into and out of cbBTC and ranks them by net received. cbBTC swaps are same-chain on its EVM network, or cross-chain to or from native BTC, and non-custodial.
What is cbBTC?
cbBTC is Coinbase's wrapped Bitcoin, an ERC-20 that tracks BTC one-to-one on EVM chains, backed by BTC in Coinbase's custody. It brings Bitcoin value into smart-contract ecosystems.
How is cbBTC different from WBTC?
Both are wrapped Bitcoin on EVM chains doing the same job. The main difference is the issuer and custodian behind the wrapper. Functionally they're very similar for swapping.
How do I swap native BTC to cbBTC?
That's a cross-chain route between the Bitcoin network and an EVM chain. Multiswap compares those paths, so switching between native BTC and cbBTC is one comparison.
Swap cross-chain from Telegram
Non-custodial, no account, and the net amount shown before you confirm. Cross-chain execution runs through Multiswap on Telegram.
Launch MultiswapDigital asset swaps carry market, liquidity, network, and protocol risk. On-screen figures, rates, and quotes are illustrative and do not constitute financial advice, a solicitation, or a guarantee of execution price or settlement. Use only funds you can afford to put at risk, and ensure cross-chain swapping is permitted in your jurisdiction.