uBTC is a tokenized version of Bitcoin (BTC) that runs on multiple blockchains including Base, Polygon, and Arbitrum. uBTC is an ERC-20 token, allowing it to be fully integrated into the DeFi ecosystem across multiple Ethereum blockchains. uBTC is backed by BTC at a 1:1 ratio via a network of merchants, ensuring that its price is pegged to the price of Bitcoin at all times. Underlying reserves are held with Coinbase Custody.