CCIP from Chainlink has facilitated over $28 trillion in cross-chain value transfers
On March 2, 2026, Chainlink announced support for transferring cbBTC — Coinbase’s wrapped Bitcoin token — from Base to the Monad blockchain through its Cross-Chain Interoperability Protocol (CCIP).
This development brings over $5 billion in Bitcoin-equivalent value to Monad’s decentralized finance infrastructure.
Launched initially on Ethereum and Base in September 2024, cbBTC represents a tokenized version of Bitcoin with 1:1 backing from actual BTC held in Coinbase custody.
The token already exists on several blockchain networks including Ethereum, Base, Solana, and Arbitrum. Monad now joins this expanding list of supported chains.
As an EVM-compatible layer-1 protocol, Monad focuses on high-performance financial use cases. The network processes as many as 10,000 transactions every second while achieving finality in under a second.
The cbBTC bridge enables participants to utilize the token across lending protocols, decentralized exchanges, and advanced financial instruments on Monad. Curvance and Neverland are pioneering platforms rolling out cbBTC-focused markets.
Developers now have the foundation to create derivative products, spot trading venues, and algorithmic trading strategies centered on Bitcoin assets. Monad’s rapid transaction processing and minimal fee structure support these demanding applications.
According to Johann Eid from Chainlink Labs, the system facilitates the secure movement of billions in cbBTC value across different blockchains with enterprise-level security. Keone Hon from the Monad Foundation highlighted that this integration provides developers with a robust foundation asset for building applications.
Chainlink’s CCIP employs multiple decentralized verification mechanisms to minimize cross-chain security vulnerabilities. Since going live, the protocol has enabled more than $28 trillion in total on-chain transaction volume.
William Reilly, who leads strategic initiatives at Chainlink Labs, emphasized that as Bitcoin-backed tokens scale into the tens of billions, the underlying infrastructure must evolve to handle that magnitude.
Bitcoin’s proof-of-work consensus mechanism means it doesn’t inherently produce yield, historically limiting income opportunities for BTC holders within blockchain ecosystems.
Recent innovations are addressing this limitation. In 2025, Coinbase unveiled a Bitcoin Yield Fund designed to deliver 4% to 8% annual returns for qualified institutional investors based outside the United States.
Kraken launched a Bitcoin staking offering through Babylon Labs, enabling users to commit BTC to support proof-of-stake network security. In late February 2026, Telegram’s TON Wallet introduced Bitcoin-based yield products.
cbBTC has gained traction on multiple lending and yield-generating platforms. Certain services currently provide up to 3% returns on cbBTC holdings.
The Monad integration represents another milestone in broadening the utility and accessibility of Bitcoin-backed tokens throughout the decentralized finance sector.
