Deniz 
The CEO of Coinbase’s Singapore division announced on Saturday’s Solana Breakpoint 2024 event held in Singapore that the company intends to bring its cbBTC coin onto the Solana blockchain.
“We recently launched cbBTC on Base, but our users love Solana, and so do we,” Country Director of Singapore Hassan Ahmed of Coinbase stated on a panel discussion at Breakpoint. Ahmed did not, however, provide a specific schedule of when cbBTC will be available on Solana.
Originally teasing the token in August, the centralized digital asset exchange debuted wrapped bitcoin last week. Launch saw cbBTC put out on Ethereum and Base networks.
Supported 1:1 by bitcoin that Coinbase owns, the ERC-20 token seeks customers wishing to utilize it as collateral for other assets or to give bitcoin liquidity to Ethereum and Base ecosystems. Following changes in the ownership of the competitor token WBTC, the corporation announced the token.
Coinbase announced at launch it was trying to increase the acceptance of cbBTC among other blockchain systems. Based on information from CoinGecko, the Coinbase-wrapped Bitcoin now has a market capitalization of over $137 million.
Speaking on the subject of the roles of institutions in Web3, Ahmed noted that the “most impressive” show of institutions supporting diversification in blockchain is Jump Crypto’s work with the Firedancer validator client on Solana.
“Client diversity is one of the basic components of the Nakamoto coefficient,” added Ahmed. “So once Frankendancer and Firedancer are live, this is a huge upgrade on Solana’s network decentralization.”
Kevin Bowers, Jump Crypto’s chief scientific officer, said at Breakpoint on Friday that the Frankendancer validator client, a prototype of the much-awaited Firedancer, started functioning on the Solana mainnet and that Firedancer is running on the testnet.
Designed to handle Solana with the Agave validator client in a dual system for maximum performance, Frankendancer—then subsequently Firedancer
Blockchain developer Liam Heeger of Firedancer gave further information today at Breakpoint that the whole non-voting, non-block creating Firedancer validator client has been up on-and-off for the roughly two months, but stated it is not yet suitable for general use and production.
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