Unitus Introduces cbBTC as Collateral: Advancing BTC Derivatives Adoption in DeFi
A major trend is transforming the decentralized finance (DeFi) landscape — Bitcoin derivatives. As demand grows, holders are seeking greater transparency, enhanced use cases, and better yield opportunities within DeFi.
In response to this shift, Unitus is proud to announce a significant development: starting today, users can deposit their cbBTC on Ethereum and Base, and borrow against it. This marks a pivotal advancement in the way Bitcoin can be utilized within DeFi, offering new avenues for liquidity without the need to sell holdings.
What is cbBTC?
cbBTC, or Coinbase Wrapped Bitcoin, is an ERC-20 token that represents Bitcoin on a 1:1 basis. The underlying Bitcoin is securely held by Coinbase, providing a robust layer of trust. By wrapping Bitcoin, cbBTC empowers holders to access the vast DeFi ecosystems of Ethereum and Base, with additional blockchain integrations to follow soon.
Unlocking Bitcoin’s Utility with Unitus
The integration of cbBTC as collateral within the Unitus platform is a game-changer for Bitcoin holders. Now, they can tap into the DeFi world without having to part with their BTC. This functionality enables users to borrow assets while retaining exposure to Bitcoin’s price movements, unlocking new liquidity and financial opportunities.
Unitus is answering the community’s calls to unlock the full potential of BTC in DeFi, bridging the gap between Bitcoin’s status as a store of value and its utility in decentralized finance. With this move, we are laying the groundwork for a future where Bitcoin can play an even larger role in decentralized financial ecosystems.
The Future of Bitcoin in DeFi
Unitus’ adoption of cbBTC highlights the growing role of BTC derivatives in DeFi. By partnering with trusted institutions like Coinbase, we’re providing users with the confidence and tools they need to leverage their Bitcoin holdings within a transparent and innovative framework. As Bitcoin’s role in DeFi continues to expand, platforms like Unitus are at the forefront, driving adoption and unlocking the next wave of financial innovation.
The future is clear: Bitcoin is no longer just a store of value; it’s becoming a cornerstone of decentralized finance.
