# Coinbase Supports Celo’s Shift to Ethereum Layer-2
Coinbase has declared its backing of Celo’s move from an independent Layer-1 blockchain to the Ethereum Layer-2 system. This update is set to commence on March 25th, during which Coinbase will temporarily halt deposits and withdrawals of Celo’s original token, CGLD.
Celo’s transition to Layer-2 is centered on utilizing Ethereum’s strong security and extensive ecosystem while maintaining its signature low transaction charges and swift settlement durations.
This tactical action is anticipated to enhance scalability, decrease expenses, and improve its compatibility with Ethereum applications.
Coinbase guarantees users that their CGLD tokens will be automatically transformed during the migration, thus no action is required from their side. Nevertheless, the exchange recommends users to abstain from depositing CGLD during the migration to prevent any processing hold-ups.
Email alerts will be dispatched to keep users informed about when services will be briefly suspended and when they’ll be restored.
## Transition Procedure
The transition procedure encompasses substantial technical modifications, like accelerating block confirmation times and establishing native bridges between Celo and Ethereum, which will bolster the security and efficacy of asset transfers. Ethena Labs Bolsters Treasury Holdings with $225M BlackRock BUIDL Token Acquisition
Notwithstanding these modifications, the token code for Celo’s Layer-2 network on Coinbase will stay as CGLD.
