Coinbase has announced its support for Celo’s migration of an independent Layer-1 blockchain to an Ethereum Layer-2 network.
The transition will start with Coinbase temporary deposits and recordings of Celo’s Native Token, CGLD, during the upgrade on 25 March.
Celos moving to Layer-2 aims to use the robust safety and extensive ecosystem of Ethereum (ETH) while maintaining its characteristic functions, such as low transaction costs and rapid settlement times.
This strategic shift is expected to improve scalability, reduce costs and improve interoperability with Ethereum-based applications.
Celo is transferred from a layer of 1 blockchain to an Ethereum layer 2. Coinbase will perform this upgrade today from 8 p.m. PDT. During the upgrade, shipping/receiving for CGLD is temporarily disabled.
Here is something to be expected
– Coinbase – Activa
(@coinbasesesets) March 25, 2025
Coinbase has assured users that their CGLD tokens are automatically converted during migration, so that no action is required from their part. However, the exchange recommends that it can be reduced from the deposits of CGLD during the migration star to prevent delays.
E -mail notifications are sent to inform users when services are switched off and when they have resumed.
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Migration process
The migration process includes significant technical changes, such as faster block confirmations and the introduction of native bridging between Celo and Ethereum, improving the safety and efficiency of activation transfers.
Despite these changes, the Token-Ticker for the Layer-2 network of Celo on Coinbase as CGLD remains.
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