Coinbase, the leading publicly-listed firm for digital assets, and Chainlink, the industry-standard oracle platform, announced the selection of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the exclusive bridging solution for all Coinbase Wrapped Assets, enabling cross-chain transfers and expansion.

Coinbase Wrapped Assets, which include cbBTC, cbETH, cbDOGE, cbLTC, cbADA, and cbXRP, currently have an aggregate market cap of approximately $7B.

Chainlink operates battle-tested infrastructure and has a track record of securing tens of billions of dollars. Chainlink CCIP leverages the same decentralized oracle networks that secure over 70% of DeFi globally and has enabled more than $27 trillion in transaction volume.

Chainlink CCIP provides an established foundation for bridging Coinbase Wrapped Assets across ecosystems. With Chainlink CCIP as exclusive bridging provider, Coinbase Wrapped Assets are positioned to significantly expand across ecosystems.

“We chose Chainlink because they are an industry leader for cross-chain connectivity. Their infrastructure provides a reliable means to expand Coinbase Wrapped Asset offerings.”— Josh Leavitt, Senior Director, Product Management at Coinbase.

“CCIP was selected by Coinbase for their cross-chain needs due to CCIP’s security and reliability. As the leading publicly-listed firm for digital assets, Coinbase takes security and reliability for their products seriously. I am excited about accelerating the growth of Coinbase’s wrapped assets and look forward to helping bring global finance onchain.”—  William Reilly, Head of Strategic Initiatives at Chainlink.

This news follows Base’s announcement last week that the Base-Solana Bridge is now live and secured by Chainlink CCIP alongside Coinbase.

Source: Chainlink