Solana continues to strengthen its position as a leading blockchain for decentralized finance (DeFi) innovation, with major announcements from top crypto platforms signaling strong momentum. The latest development comes from Coinbase, which has announced plans to launch CBBTC—its wrapped Bitcoin token—on the Solana network. This move marks a pivotal step in expanding Bitcoin’s utility beyond its native chain and deepens Solana’s integration with mainstream crypto ecosystems.
The announcement was made during the Solana Breakpoint conference in Singapore, where Coinbase confirmed that CBBTC will soon be available on Solana via Wormhole, enabling seamless cross-chain interoperability. This expansion builds on CBBTC’s existing presence on Ethereum and Base, now extending Bitcoin’s reach into one of the fastest-growing DeFi ecosystems.
What Is CBBTC?
CBBTC (Coinbase Wrapped Bitcoin) is an ERC-20 token issued by Coinbase that represents Bitcoin (BTC) on other blockchains. Each CBBTC token is backed 1:1 by actual BTC held in reserve by Coinbase, ensuring full asset backing and trustless redemption.
👉 Discover how wrapped assets are transforming cross-chain DeFi opportunities.
Originally launched on September 12, CBBTC allows Bitcoin holders to participate in Ethereum-based DeFi protocols without selling their BTC. Users can leverage CBBTC for activities like:
- Trading on decentralized exchanges (DEXs)
- Providing liquidity
- Lending and borrowing
- Yield farming
By bringing CBBTC to Solana, Coinbase is unlocking these capabilities for the high-speed, low-cost Solana ecosystem—potentially driving significant inflows of capital and users.
Why Solana? Speed, Cost, and Growing Adoption
Solana has become a preferred platform for developers and institutions due to its:
- Sub-second transaction finality
- Extremely low fees (fractions of a cent)
- High throughput (up to 65,000 TPS)
- Robust developer community
With CBBTC on board, Bitcoin holders can now access Solana’s vibrant DeFi landscape—including lending platforms, DEXs like Orca and Raydium, and yield-generating protocols—without sacrificing security or control over their underlying assets.
This integration also enhances cross-chain liquidity, allowing BTC value to flow more freely between Ethereum, Base, and Solana. As more users adopt multi-chain strategies, infrastructure like Wormhole becomes critical—and this launch underscores Wormhole’s role as a trusted bridge.
Sky Brings USDS Stablecoin to Solana via Wormhole
In another major boost for Solana’s DeFi ecosystem, Sky, formerly known as MakerDAO, has launched its USDS stablecoin on Solana through Wormhole’s Native Token Transfer (NTT) framework.
USDS operates similarly to DAI but with enhanced cross-chain functionality. On Solana, users can:
- Bridge USDS from Ethereum using Portal or other supported bridges
- Deposit Solana-based USD into Sky Protocol vaults
- Earn yield and manage collateralized debt positions (CDPs)
“Sky is coming to Solana, letting users benefit from its lightning-fast execution and ultra-low fees,” stated a Wormhole blog post announcing the integration.
This multi-chain expansion includes support for $SKY, $USDs, and $SUSDS across networks while preserving native token functionality and unifying liquidity. It’s a strategic move that increases capital efficiency and strengthens Solana’s appeal to institutional-grade DeFi participants.
👉 Explore how next-gen stablecoins are reshaping global finance.
Travala Integrates Solana for Seamless Crypto Travel Bookings
Adding real-world utility to the ecosystem, Travala, the leading crypto-native travel booking platform, has officially integrated Solana into its payment infrastructure.
Announced at Solana Breakpoint by CEO Juan Otero, the integration enables users to book over 3 million travel products—including flights, hotels, and vacation rentals—using:
- SOL
- USDT (Solana version)
- USDC (Solana version)
Key benefits include:
- Instant deposits and withdrawals directly on the Solana network
- Zero transaction fees for crypto payments
- Faster settlement times compared to legacy systems
Additionally, Travala teased the upcoming launch of $SOL Travel Rewards, a loyalty program that will incentivize users who spend SOL on bookings—a compelling use case that drives demand for native tokens.
This partnership not only enhances user experience but also demonstrates how blockchain technology can deliver tangible value in everyday applications like travel.
Market Impact: SOL Holds Strong at $145 Amid Positive Momentum
Despite a slight pullback, Solana (SOL) remains resilient around $145, following a 10% weekly gain fueled by these strategic developments. Analysts point to increased network activity, rising total value locked (TVL), and growing institutional interest as key drivers behind the bullish sentiment.
Core factors supporting SOL’s outlook include:
- Expansion of cross-chain asset availability (CBBTC, USDS)
- Strengthened DeFi fundamentals
- Real-world adoption via platforms like Travala
- Developer momentum and ecosystem funding
These catalysts suggest that Solana is transitioning from a speculative asset to a foundational layer for scalable, user-friendly Web3 applications.
Frequently Asked Questions (FAQ)
What is CBBTC?
CBBTC is Coinbase’s wrapped version of Bitcoin, allowing BTC holders to use their assets on blockchains like Ethereum, Base, and now Solana. Each CBBTC is backed 1:1 by real Bitcoin stored securely by Coinbase.
How does CBBTC work on Solana?
Through Wormhole’s cross-chain messaging protocol, CBBTC is bridged to Solana as a SPL token. Users can then use it across Solana DeFi apps just like any other token.
Is USDS the same as DAI?
While both are over-collateralized stablecoins developed by the same core team (now operating under Sky), USDS is optimized for multi-chain deployment using Wormhole’s NTT framework, offering improved cross-chain composability.
Can I earn rewards using SOL for travel?
Yes—Travala has announced upcoming $SOL Travel Rewards, which will offer incentives such as cashback or discounts for users who pay with SOL when booking travel services.
Does wrapping Bitcoin involve risk?
While CBBTC is backed 1:1 by Coinbase-held BTC, it introduces custodial risk since users rely on Coinbase to secure the underlying asset. However, it avoids smart contract risks associated with decentralized wrapping solutions.
How do I bridge assets to Solana?
You can use trusted cross-chain bridges like Portal (by Wormhole) to transfer tokens such as USDS or CBBTC from Ethereum to Solana securely.
Final Thoughts: A New Chapter for Solana’s Ecosystem
The convergence of Coinbase’s CBBTC, Sky’s USDS launch, and Travala’s integration highlights a maturing ecosystem built on speed, utility, and interoperability. These developments aren’t just technical upgrades—they represent a broader shift toward multi-chain accessibility and real-world blockchain adoption.
As more institutions embrace Solana’s infrastructure, the network is poised for sustained growth in both user base and economic activity. For investors and developers alike, the message is clear: Solana is no longer just a fast blockchain—it's becoming a central hub for next-generation financial innovation.