Bitcoin has spent years sitting outside decentralized finance. Wrapped versions solved part of that problem, but they fragmented liquidity across dozens of incompatible bridges. Coinbase and Chainlink are now testing a different approach on Robinhood’s new Layer 2.
NEW: @Coinbase’s cbBTC is expanding to @RobinhoodCrypto, powered by Chainlink CCIP as its exclusive cross-chain infra.
— Chainlink (@chainlink) August 27, 2026
By connecting cbBTC to Robinhood Chain, ecosystem builders now have access to a Bitcoin-backed asset with over $7.5 billion in circulation. pic.twitter.com/29H7zXgYoP
Bitcoin Liquidity Lands on a Broker-Owned Layer 2
Coinbase’s wrapped Bitcoin token, cbBTC, now operates on Robinhood Chain. Chainlink’s Cross-Chain Interoperability Protocol, or CCIP, serves as the exclusive bridging layer for every transfer. More than $7.5 billion in cbBTC circulates today, according to Chainlink. Etherscan data puts the Ethereum supply near 94,590 tokens, each backed 1:1 by Bitcoin held in Coinbase Custody. As a result, Robinhood Chain builders gain a deep Bitcoin-denominated asset without deploying a new wrapper. The integration also creates a direct route between Base and Robinhood Chain, where much of that liquidity already sits.
“We are excited to power the expansion of Coinbase’s cbBTC to Robinhood Chain, utilizing Chainlink CCIP as the exclusive cross-chain infrastructure. Digital assets reach their full potential when they can move across ecosystems without compromising security. Through this expansion, the underlying Bitcoin remains secure and audited, significantly reducing systemic risk while unlocking over $7.5 billion in circulating liquidity for Robinhood’s DeFi ecosystem.”
William Reilly, Head of Strategic Initiatives, Chainlink Labs
How the Cross-Chain Token Standard Moves cbBTC
The deployment runs on Chainlink’s Cross-Chain Token standard, usually shortened to CCT. Under CCT, an issuer registers audited token pools on each supported chain instead of writing custom bridge code. Those pools use either a burn-and-mint model or a lock-and-release model, depending on the asset’s design. When a user sends cbBTC, the source pool retires or locks the balance and CCIP relays a verified message. The destination pool then mints or releases the matching amount on the receiving chain. Importantly, the issuer keeps administrative control, including rate limits and emergency pause powers, rather than handing that authority to a third-party bridge.
Why One Custody Pool Beats Many Wrappers
The bridge-wrapped design matters more than the plumbing suggests. Coinbase holds and audits the underlying Bitcoin in a single reserve rather than splitting issuance across every chain. Each new network therefore inherits the same collateral, the same attestations, and the same redemption path. Traditional bridges instead produce wrapped versions of wrapped assets, and each hop adds another trust assumption. That layering is exactly what turned earlier bridge exploits into systemic events. By contrast, cbBTC arrives on Robinhood Chain as the same token developers already integrate on Base and Ethereum.
What Builders Can Now Ship on Robinhood Chain
Access to a multi-billion-dollar Bitcoin asset opens several product categories at once. Lending protocols can accept cbBTC as collateral for stablecoin borrowing. Vault designers can build Bitcoin-denominated yield strategies and structured products on top of it. Trading venues on the chain gain a liquid pair that tracks Bitcoin closely. Additionally, treasuries and market makers can move value between Base and Robinhood Chain without touching an external bridge. Worth noting, these remain capabilities rather than shipped products, and adoption will depend on which teams actually deploy.
Robinhood Chain Brings Real Distribution to the Deal
Robinhood Chain launched its public mainnet on July 1, 2026, built on Arbitrum Orbit and settling to Ethereum. The network shipped with Chainlink CCIP, Data Streams, and Data Feeds live from day one. Growth since then has been fast, with total value locked crossing $1 billion in August after sitting near $536 million on August 17. CEO Vlad Tenev has claimed the chain reached 100 million transactions faster than any prior network. Robinhood’s roughly 23 million funded customers explain much of that velocity. However, tokenized real-world assets still trail the hype, with onchain RWA value estimated between $32 million and $125 million depending on the methodology.
An Exclusive Deal That Started in December 2025
This expansion did not appear out of nowhere. On December 11, 2025, Coinbase named CCIP the exclusive bridging solution for its full wrapped asset suite. That lineup covers cbBTC, cbETH, cbXRP, cbDOGE, cbLTC, and cbADA, worth roughly $7 billion combined at the time. Josh Leavitt, senior director of product management at Coinbase, said the firm chose Chainlink for its cross-chain reliability. Because that framework already existed, Robinhood Chain’s CCIP support made the cbBTC rollout close to automatic. Chainlink’s Q2 2026 review shows the same pattern elsewhere, including a Tempo integration and 84 new CCT tokens.
What to Watch Next
Two questions will determine whether this becomes meaningful volume or a quiet listing. First, watch whether Morpho Blue and the other lending venues on Robinhood Chain actually onboard cbBTC as collateral. Second, watch net flows between Base and Robinhood Chain over the coming weeks. Real bridging activity, not announcements, will show whether Bitcoin holders want exposure inside a broker-controlled environment. Readers should also remember the underlying trust model here. cbBTC is a Coinbase liability, so its value and redemption depend entirely on Coinbase’s custody and solvency.
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