Coinbase Taps Chainlink CCIP as Sole Bridge for $7B in Wrapped Tokens Across Chains
Coinbase selected Chainlink's CCIP as the exclusive bridge for its $7 billion in wrapped assets across various blockchains.Summary
Coinbase has designated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the sole bridge for all its Wrapped Assets, including cbBTC, cbETH, and others, which collectively hold about $7 billion in market value. This integration allows users to securely move these assets across different networks and decentralized applications by leveraging Chainlink's decentralized oracle networks.
CCIP routes value and messages between chains via a decentralized set of nodes, a design intended to mitigate the operator risk associated with traditional cross-chain bridges, which have been prone to high-profile exploits. Coinbase cited Chainlink's industry leadership in cross-chain connectivity as the reason for the selection. This move follows the recent launch of a Chainlink CCIP-secured bridge connecting Coinbase's Base layer-2 network with the Solana blockchain.
(Source：CoinDesk)