As the crypto world prepares for the Ethereum merge next month, popular crypto exchange Coinbase announced on Wednesday the launch of cbETH, its new wrapped and staked Ethereum ERC-20 token. Staking is pledging an asset to a network to help it validate transactions, usually for a monetary return or rewards. “Coinbase Wrapped Staked ETH (cbETH) is a utility token that represents ETH2, which is ETH staked through Coinbase,” the company tweeted, adding that “cbETH can be sold or sent off-platform, while ETH2 will remain locked-up until a future protocol upgrade.”
Coinbase Announces cbETH Wrapped Ethereum Staking Token
