Crypto Exchange Coinbase to Offer Liquid Staking Token Before Ethereum Merge

Coinbase is hoping to spur massive adoption of the token, which will have several uses after the Merge. “Our hope is that cbETH will achieve robust adoption for trade, transfer, and use in DeFi [decentralized finance] applications,” according to the white paper. “With cbETH, Coinbase aims to contribute to the broader crypto ecosystem through creating high-utility wrapped tokens and open sourcing smart contracts,” the white paper added.