Coinbase Enhances Onchain Economy with $13.2 Million cbBTC and New Tools

Coinbase has made significant strides in enhancing the accessibility and functionality of the onchain economy. Users can now withdraw Bitcoin to Base and use it in applications like Moonwell, which has seen $13.2 million in cbBTC supplied. The Coinbase Wallet Smart Wallet simplifies global onchain participation without the need for app downloads or seed phrases. Additionally, the CoinbaseDev SDKs have introduced new features, including contract deployment, message signing, and support for ERC-721 and ERC-1155, making it easier for developers to build onchain applications. The release of tools like Replit and the ability to deploy NFT and Multi-Token contracts with a single line of code further underscores this progress. Moonwell's Flagship Vaults on Base offer a user-friendly entry point for newcomers, while Core Markets cater to experienced users. The introduction of SOL staking on the SDK and improvements to the Coinbase Wallet flow on mobile also highlight Coinbase's commitment to simplifying onchain finance.