Circle unveils plans for wrapped bitcoin token cirBTC
The Block
Circle has announced cirBTC, a new 1:1 Bitcoin-backed token designed to provide institutional-grade security and utility across blockchain networks.Summary
Circle Internet Group has introduced cirBTC, a new wrapped bitcoin token backed 1:1 by actual BTC. Designed to serve as an institutional-grade global standard, the token will integrate with Circle’s existing infrastructure, including its Circle Mint platform and the Arc Layer 1 blockchain. The initiative aims to offer a neutral and secure alternative to existing wrapped tokens like wBTC, targeting institutional users such as market makers and lending protocols. The token is scheduled to launch on the Ethereum mainnet and the Arc network.
(Source：The Block)